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Noname Security , a cybersecurity startup that protects APIs , is in advanced talking with Akamai Technologies to sell itself for $ 500 million , harmonize to a person familiar with the bargain .
Nonamewas co - base in 2020 by Oz Golan and Shay Levi and is headquarter in Palo Alto but has Israeli roots . The inauguration raised $ 220 million from venture investors andwas last treasure at $ 1 billionin December 2021 when it raise $ 135 million in a Series C led by Georgian and Lightspeed . While the sale price is a significant price reduction from that valuation , the deal as it currently stand would be for hard currency , the mortal said . The deal is not final and could alter or not happen at all .
Other investors who have backed Noname let in Insight Partners , ForgePoint , Cyberstarts , Next47 and The Syndicate Group .
While the potential deal terms is half the valuation than Noname ’s last private evaluation , those who invested at the early stage will receive a meaningful return from the sales agreement . Meanwhile , the deal should reserve the late - point investors , particularly those who seat in the last round , to get a full return on the capital they put in , if not the profit that they hope for during those heady days of 2021 when money was flowing and valuations were optimistic .
The deal values the company at about 15X yearly repeat revenue , the mortal suppose . Noname ’s approximately 200 employees are ask to transition to Akamai if the sale close .
Akamai decline gossip . A Noname Security spokesperson secernate TechCrunch,“As a policy , we refrain from commenting on rumors or speculation . ”
The Informationreportedin January that Noname was trying to upraise another funding round at a substantially lower valuation . In February , Israeli word release Calcalist reported that Noname was innegotiations with several likely buyer , including Akamai .
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Many VC - indorse companies that raised Washington at the pinnacle of the tech thunder see their valuation crater after the U.S. Fed evoke stake rates . Many are now simultaneously looking for buyers and a novel stave of backing , hump in the finance world as a double - track unconscious process . Meanwhile , many late - stage VCs are look for fluidity after more than a year of a flash-frozen IPO market place . So , the general mode in the venture industry is that , if robust IPOs do n’t return before long , it will be bargain shopping fourth dimension for M&A activity .
