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StepStone Group, which recently acquired venture capital platform Greenspring Associates, has led the US$23 million capital raising of Kasada.
Firm: Herbert Smith Freehills (Kasada)
Value: US$23 million.
Area: Capital raising.
Key players: The HSF team was led by partner and co-head of venture capital (Australia) Clayton James and solicitor Vincent Greco Schwartz.
Deal significance: Kasada is an Australian cyber security company that foils malicious threats from login to data-scraping across web, mobile and API channels. Its category-defining web traffic integrity solution gives internet control and safety back to humans. Kasada now protects more than $20 billion in e-commerce annually and stops over five billion monthly requests left undetected by legacy systems.
Commenting on the deal, Mr Schwartz said: “Kasada has done an exceptional job of scaling up its customer base and we are thrilled to be a part of the company’s expansion onto the global stage. This further funding round is a testament to its best in class, anti-bot solutions and a recognition of the importance in protecting against the rising threat of cybercriminals.”
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Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
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