The company claims that more than 500 enterprises globally, including 40% of the Fortune 100, have implemented its cloud security technology. Credit: VideoFlow/Shutterstock.

Cloud native security startup Aqua Security has raised $60m in funding as part of the extension of its Series E funding round.  

This latest investment round values the company at more than $1bn.  

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New investor Evolution Equity Partners led the extension round, which saw participation from existing investors Insight Partners, Lightspeed Venture Partners, and StepStone Group. 

The Tel Aviv and Boston-based company has raised $325m since its inception in 2015.  

The company claims that more than 500 enterprises globally, including 40% of the Fortune 100companies, have implemented its cloud security technology.  

Aqua claims that it serves six of the top ten banks in North America and six of the top seven banks in Canada. 

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Evolution Equity Partners general partner Yuval Ben-Itzhak said: “Aqua Security has built an innovative cloud security solution that solves the growing challenge of stopping cloud native attacks.  

“Given the increasing adoption of cloud native applications across enterprises, Aqua’s growth trajectory is a rocket ship. Led by a strong management team, and with a focus on customer success and innovation, Aqua stands out among a crowded vendor landscape.”  

Aqua Security co-founder and CEO Dror Davidoff said: “Investors continue to appreciate Aqua’s enormous potential, and the surging demand for our solution.  

“Eight years ago, we envisioned a world where all new applications would be built native to the cloud. Today we are here in a market we pioneered with a purpose-built solution to protect customers’ digital transformations.”  

In the initial Series E round in March 2021, the company raised $135m. That round was led by ION Crossover Partners.  

It included contributions from M12 – Microsoft’s venture fund, and also Lightspeed Venture Partners, Insight Partners, TLV Partners, Greenspring Associates, and Acrew Capital.