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

The company focuses on thwarting cyberattacks and frauds orchestrated by bots will use the money to invest in AI and grow its international business.

How AI is reducing the cybersecurity talent shortage Tonya Hall and Sylvain Gil, co-founder and executive vice president at Exabeam, talk about how AI can help with the shortage of cybersecurity professionals.

Special feature

Cyberwar and the Future of Cybersecurity

Today's security threats have expanded in scope and seriousness. There can now be millions -- or even billions -- of dollars at risk when information security isn't handled properly.

Read More

Shape Security, which focuses on bot and online fraud mitigation, said it raised $51 million in venture funding for a total amount of $183 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.