Sqreen, the industry’s first provider of Application Security Management (ASM), has closed a $14 million Series A funding round led by Greylock Partners with Y Combinator and previous investors Alven and Point Nine also participating

Sqreen was created by former leaders of Apple’s offensive security team. They saw the need for a powerful solution to modern application security challenges, with Apple-quality simplicity, design and ease of use.

Sqreen’s ASM platform is now used to protect more than 500 companies around the world. It offers a modern approach to security in production for web applications and cloud workloads. ASM leverages microagents embedded in applications to identify and automatically protect against threats in real time.

Sqreen is easy to use and deploy. With no software code modifications, it can be up and running and protect any web application in under five minutes. Its unique hybrid SaaS architecture allows instant and safe deployment through smart microagents, without having to redirect traffic or install complex on-premises software.

Sqreen, announces the close of a $14 million Series A funding round led by Greylock Partners with Y Combinator and previous investors Alven and Point Nine also participating. Greylock partner Sarah Guo joins the board. To date, Sqreen has raised more than $18 million in total funding.

According to technology research firm Forrester, application security spend will double over the next five years at a 16.4% compound annual growth rate, reaching $7.1 billion in annual spend by 2023.