Shape Security, a startup developing new web security technology,
announced today that Google Ventures has joined its Series A funding
round. Announced in April, Shape's Series A round was led by Kleiner
Perkins Caufield & Byers and Google Executive Chairman Eric Schmidt's
TomorrowVentures. Additional participants also include Baseline
Ventures, former partners at Sequoia Capital and Accel Partners, and
top executives from Dropbox, Facebook, LinkedIn, and Twitter.
"We're in a unique position to see the threat of botnet attacks on a
truly global scale, and it's far greater than most people realize,"
said Karim Faris, partner at Google Ventures. "With Shape's
technology, major web and social media properties will be able to
protect their sites and users from automated attacks in new and
innovative ways. Shape's approach will make building and running
botnets onerous and cost-prohibitive for attackers, completely
changing the dynamic of web security."
"We are very excited to open our Series A to include Google Ventures.
Their ability to assist us with recruiting top engineering talent and
product design insights during this critical stage of our growth will
be extremely valuable," said Derek Smith, CEO of Shape Security.
The company also announced that it has expanded its executive team to
add former Google 'click fraud czar,' Shuman Ghosemajumder, to drive
marketing, strategy and business development. Co-founder Sumit Agarwal
also spent 7.5 years at Google, where he was the Head of Mobile
Product Management for North America. Eric Schmidt's TomorrowVentures
and other former Google executives Deep Nishar (now at LinkedIn),
Gokul Rajaram (now at Facebook) and Ramsey Homsany (now at Dropbox)
are also investors in the company.
About Google VenturesGoogle Ventures provides seed, venture and growth
stage funding to the most innovative and promising entrepreneurs
across a variety of stages. Founded in 2009, Google Ventures helps its
entrepreneurs succeed by providing access to uniquely hands-on and
dedicated resources such as its Design Studio, Marketing, Recruiting,
and Engineering Teams, and Startup Lab. The Google Ventures team has
extensive entrepreneurial experience, deep technical knowledge and
expertise in building high growth, scalable products and companies.
Among its 100+ investments are Nest, Kabam, HomeAway, SCVNGR, ngmoco,
Airtime and WhaleShark Media. Google Ventures is headquartered in
Mountain View, Calif. with offices in Cambridge, Mass., Seattle, Wash.
and New York, N.Y. For more information, please visit
www.googleventures.com(http://www.googleventures.com/).
About Shape SecurityBased in Mountain View, CA, Shape Security is a
startup developing a new category of web defense products. Shape's
founders come from Google, the Department of Defense and major defense
contractors. The company's patent-pending technology will provide
customers with a fundamentally different approach to protecting
e-commerce and social network websites. Shape Security is hiring
world-class engineers. Visit shapesecurity.com to learn more.
