/Shape Security raises $51 million, hits $1 billion valuation

Shape Security raises $51 million, hits $1 billion valuation

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Shape Security, which focuses on bot and online fraud mitigation, said it raised $51 million in venture funding for a total amount of $173 million and a valuation of $1 billion.

The investment round was led by C5 Capital and featured existing investors.

Shape Security said it will use the money to grow its international footprint and boost its investment in artificial intelligence.

C5 Capital is based in London and has offices in Europe and the Middle East. Shape Security has a large customer base across multiple industries such as telecommunications, government, healthcare and travel and hospitality.

Shape Security has built a series of products including Shape Defense for mobile and web fraud detection, Shape Device ID for fraud detection and API Defense, which protects APIs.

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