Singtel Innov8 invests $26M in US-Based Shape Security

Singtel Innov8, the venture capital arm of Singaporean telecom firm Singtel, has backed the $26-million funding in Shape Security, US-based startup that provides security technologies for web and mobile applications.

The growth capital round brings Shape Security’s total funds raised to $132 million, with the latest round led by Norwest Venture Partners and joined by JetBlue Technology Ventures. Existing investors Kleiner Perkins, Venrock, Baseline Ventures, Allegis Capital, Focus Ventures, Epic Ventures, Raging Capital, and Tomorrow Ventures also participated, Shape said.

“Criminals spill more than 5 million usernames and passwords every day then use these credentials to attack large web and mobile applications. We founded Shape to stop these attacks, protecting both users and enterprises from fraud,” Sumit Agarwal, Shape Security co-founder & COO, said.

Navojit Dastidar

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