Cybersecurity firm Kasada, a specialist in thwarting data-scraping bots, has closed a US$20 million funding round, valuing the company at approximately $300 million. The investment, backed by Swedish private equity giant EQT alongside existing supporters, reinforces market confidence in Kasada’s mission to protect businesses from increasingly sophisticated automated threats. The new capital strengthens the company’s position as it scales its technology and global footprint in a rapidly evolving cybersecurity landscape.
A History of Strong Investor Confidence
The round includes participation from EQT as well as long-standing backers Turnbull & Partners, Westpac’s venture fund Reinventure, and CSIRO-supported Main Sequence. Additional investors such as OIF Ventures, StepStone Group, and Ten Eleven also joined the raise. This backing further validates Kasada’s leadership in the bot defense sector and underscores the strategic relevance of its technology.
This funding adds to a steady track record of capital formation that has supported Kasada since its founding in 2015. The company attracted In-Q-Tel, the CIA’s venture arm, during its Series A in late 2019, followed by a $23 million Series C in 2021. These milestones highlight Kasada’s ability to consistently secure high-caliber investors who recognize the strength and scalability of its cybersecurity platform.
Global Ambitions and Operational Scale
Although born in Sydney, Kasada has grown into a strongly international business, with the United States now generating around 90 percent of its revenue. Founder and CEO Sam Crowther recently relocated back to Australia after six years in New York, reflecting a commitment to strengthen the company’s domestic foundation while continuing to expand its North American leadership.
Kasada operates with a team of roughly 100 employees across Sydney, Melbourne, and multiple U.S. locations. This distributed model enables the company to support a diverse and expanding customer base across several industries. Its global reach and operational depth position Kasada to address rising demand for advanced bot mitigation solutions.
Combating Sophisticated Digital Threats
Kasada’s platform delivers comprehensive defense against automated attacks through its bot defense and fraud protection products. Its technology tackles issues such as account takeover, fake account creation, malicious scraping, API abuse, and the growing wave of generative-AI-driven attacks. For many enterprises, Kasada offers a more effective and user-friendly alternative to legacy mechanisms like CAPTCHAs.
The strength of its solutions is reflected in its customer roster, which includes brands such as REA Group, Crocs, and Hyatt Hotels. Adoption across sectors like retail, real estate, and hospitality demonstrates the broad and urgent demand for dependable bot mitigation capabilities. The company’s performance among these high-profile clients reinforces its reputation for delivering measurable security outcomes.
The economic stakes continue to rise, with malicious bot activity costing businesses an estimated $186 billion annually. Meanwhile, digital ad fraud is expected to surge from $88 billion in 2023 to $172 billion by 2028. These escalating figures underline the necessity of modern defenses that can keep pace with attackers’ evolving methods.
With its latest $20 million infusion, Kasada is equipped to accelerate product innovation and strengthen its position in the global cybersecurity market. The continued backing of EQT and long-time investors supports the company’s next phase of growth as it works to fortify the digital economy against increasingly complex automated threats.