Investors Keen On Cybersecurity Space As APIs Become Vulnerable To Attacks

After APIs, now venture capitalists have now started flowing into the cybersecurity space

For the last two months, there have been increased attacks through APIs or Application Programming Interface. So, investors have turned their eye from API towards cybersecurity as it is the need of the hour. Chris Metinko has written about the vulnerabilities of APIs and how attackers breach in his article for CrunchBase.

Here is what he has written:

  • API security providers get multiple emails from investors 

  • API enables two applications to talk with each other, like connecting you to a database, etc.

  • 83% of web traffic is through APIs

  • Microservices like communication, logistics, and login verification are the reason for API explosion.

  • Companies like Peloton, Clubhouse, Experian, and John Deere have run into API security incidents.

  • Companies see a multifold increase in cyberattacks as the attackers have used the pandemic to hone their skills.

  • Without security APIs, attackers can disrupt a company's e-commerce business.

What We Think

The rise of APIs has allowed many collaborations to happen between multiple applications, which has been jeopardized by the rise in security attacks during the pandemic. This has created a need for cybersecurity companies to provide secure APIs.

You can read the full article here.