Akamai to buy Noname Security for 500 million dollars

US caching server giant continues diversifying into cloud and cybersecurity by acquiring the Israeli unicorn startup Noname Security, specialized in API security.

On April 12, 2024, TechCrunch revealed that Akamai Technologies was on the verge of purchasing the Israeli cyber unicorn startup, Noname Security, which is specialized in API security. The transaction is estimated at 500 million dollars (470 million euros). However, the deal has yet to be finalized, according to a source close to the matter.

Created in 2020 in Israel, Noname Security now has its headquarters in Palo Alto in the US. The startup develops tools using AI to detect suspicious behavior and misconfigurations in a company’s APIs, whether they are managed or not. It thus ensures protection against data leaks, authorization issues, inappropriate uses and data corruption.

At the end of 2021, a 135-million-euro series C fundraising round brought Noname Security’s valuation to a billion dollars (940 million euros). Its 200 employees should join Akamai’s cyber teams.

As world leader in caching servers for corporations, Akamai Technologies recently began diversifying into cloud and cybersecurity. In 2022, the firm acquired the cloud-hosting provider Linode, for 900 million euros.