Approov Limited, a leader in mobile app and API security, has successfully completed a £5 million (US$6.7 million) Series A funding round, spearheaded by Maven Capital Partners with support from Souter Investments, Lanza techVentures, and Scottish Enterprise. These funds will enhance Approov’s R&D team in Edinburgh, focusing on advanced security technologies to combat evolving cyber threats, including AI-driven risks. Their patented solutions provide crucial protection against app tampering and unauthorized API access, essential amid shifting regulations like the EU’s Digital Markets Act (DMA). This investment allows developers to distribute apps securely while reclaiming up to 30% in potential revenue losses typically incurred due to platform fees. With real-time app attestation and runtime API protection, Approov serves industries like healthcare and fintech. The CEO highlighted that mobile app security must be proactive, while industry leaders recognize the imperative for robust API protection across diverse ecosystems.
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