Quick Heal Invests of $2 M in an Israeli Startup

CIOReviewIndia Team | Thursday, 14 January 2021, 09:17 IST

An Israel-based cybersecurity startup, L7 acquires an investment of $2 million from an IT security and data protection solutions provider Quick Heal Technologies for API security.

The startup specializes in Application Programme Interface (API) security and next-gen web application firewall (NG-WAF). Quick Heal already had invested $300,000 in the startup last year.

Quick Heal quoted a Gartner report that about 90 percent of web-enabled applications will get exposed to cyber-attacks because of glitches in API weaknesses in 2021.

It released a statement saying, “This will be up from 40 per cent of the apps that were exposed in 2019. Hence, API security has become one of the top cybersecurity concerns for enterprises.”

L7’s AI-enabled Ammune technology protects a range of attacks that target APIs. The list of attacks comprises of Distributed Denial of Services (DDoS), bot attacks (deployment of automated requests of attacks on APIs, websites, applications) and other malicious threats.

Kailash Katkar, Managing Director and Chief Executive Officer, Quick Heal Technologies, said, “This is our third investment in the last 18 months. Besides two tranches of investments into L7 Defense, we had recently invested in Singapore based Ray Pte.”

He said that the investment will be helping Seqrite – Quick Heal’s venture for supporting enterprise security to foray into application security.

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