Original press release published here.

LAS VEGAS – July 16, 2024 – Cequence Security, a pioneer in API security and bot management, today announced significant momentum, including a 117% year-over-year growth in new annual recurring revenue (ARR). This growth has been fueled by substantial customer wins, heightened traffic defense, and notable industry recognition.

With APIs now recognized as the number one attack vector in cybersecurity, Cequence is committed to addressing the growing threat landscape by providing robust, scalable solutions that empower organizations to secure their digital assets effectively.

"Our recent achievements highlight not just our product's capabilities, but also our team's relentless dedication to innovation and customer success," said Ameya Talwalkar, CEO at Cequence. "We are excited to continue this momentum and push the boundaries of what's possible in API security."

Sales & Partner Momentum

Cequence has achieved impressive growth milestones, including:

• A 100% increase in new logos

• A 117% year-over-year growth in new ARR

• An 81% expansion in average deal size

On the partnership front, Cequence has steadily expanded its network by adding 15 new reseller partners over the past two quarters, further strengthening its market presence.

"API security has become a pressing concern for organizations striving to protect their digital ecosystems," said Randolph D’Souza, director of product management of Vercara. "Our partnership with Cequence enables us to tackle these challenges effectively, equipping our customers with industry-leading API security and bot management solutions. Together, we’re not just mitigating risks; we’re enhancing our clients' ability to thrive in a rapidly evolving landscape. With Cequence’s innovative technology, we empower organizations to safeguard their most valuable assets while ensuring smooth and secure operations, ultimately fostering greater trust with their customers."

Customer Outcome Momentum

In a rapidly evolving threat landscape, Cequence has significantly strengthened the digital infrastructures of a diverse array of high-profile clients across the Americas, Asia, Australia, Europe, and the Middle East. Across telecommunications, financial services retail and manufacturing, Cequence now protects eight global carriers including two of the top three U.S. carriers, the largest credit card issuer, the largest mutual fund, the largest bank in Latin America, several government agencies, and the largest automobile retailer in the region.

"By leveraging the Cequence Unified API Protection platform and their managed services, our security team has implemented a robust defense-in-depth strategy that provides comprehensive protection across our entire application portfolio, said Diane Brown, VP of IT Risk Management at Ulta Beauty. "This has significantly elevated our ability to detect and mitigate threats, ensuring that our digital assets remain secure while supporting the rapid pace of innovation at Ulta Beauty."

Since the early September launch of the Apple iPhone 16 across major telecom customers, Cequence has managed over 6.7 billion API calls—37% of which were identified as malicious—highlighting both the heightened demand for our services and the exceptional dedication of our team in maintaining service integrity during this significant event.

Product Momentum

Cequence remains at the forefront of technological innovation, with the recent launch of several new product features designed to enhance existing security capabilities. Key updates include:

• Supported deployments for sovereign cloud, air-gapped, and multi-cloud environments

• Real-time threat detection and mitigation with autonomous ML-driven rules and policy actions

• API Security Testing for OWASP LLM Top 10 Threats

• Zero-knowledge discovery of edge, infrastructure and API gateways for public-facing API hosts

• Cequence Flow Graph for visualizing API traffic

These features provide businesses with deeper insights into API traffic, improved threat detection, and automated response mechanisms.

"We are continually evolving our product offerings to meet the dynamic needs of our clients," added Talwalkar. "Our latest innovations not only bolster security but also empower organizations to operate more efficiently and confidently."

Industry Awards and Recognition

Cequence has been honored with multiple prestigious awards this year, including:

• Best API Security Solution - G2

• Top Rated API Security Software - G2

• Winner in the API Security Category - 2024 Cybersecurity Excellence Awards

• API Security and Bot Management Trailblazer Awards - Global InfoSec Awards at RSA Conference 2024, Cyber Defense Magazine

• Named to Inc.’s 2024 Best Workplaces List

• Honored in Built In’s 2024 Best Places to Work Awards

• Hottest Privately Held Cybersecurity Company - Citizens JMP

• Innovation Award in Cybersecurity - Tech Innovation Awards

These recognitions underscore Cequence's dedication to excellence and its position as a pioneering force in the API security landscape.

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