Shape Security is an application security company specializing in bot mitigation, fraud, and abuse defense for web and mobile applications. Founded in 2011 by Derek Smith, Sumit Agarwal, and Justin Call, Shape protected the largest banks, airlines, retailers, and government agencies against automated attacks such as credential stuffing, account takeover, and scraping. The company was acquired by F5 Networks in January 2020 for approximately $1 billion, becoming the foundation of F5's application security and anti-fraud product line.
Shape Security has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2011
Employees
350–400
Total Funding
$143M
5 rounds
Latest Valuation
$1B
September 12, 2019
Total raised $143M across 5 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-25-2026
Latest Round
Type
Series F
Date
September 12, 2019
Amount
$51M
Valuation
$1B
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| September 12, 2019 | Series F | $51M | $1B | C5 Capital |
| November 1, 2018 | Series E | $26M | — | Norwest Venture Partners |
| February 25, 2014 | Series C | $40M | — | Norwest Venture Partners, Sierra Ventures |
Derek Smith
Co-Founder & CEO (until F5 acquisition)
Sumit Agarwal
Co-Founder & COO
Justin Call
Co-Founder & VP of R&D / CTO
Competitor list is illustrative and may be incomplete, stale, or erroneous.
PerimeterX (now HUMAN Security)
Bot management and application security platform; merged with White Ops to form HUMAN Security.
DataDome
Real-time bot and online fraud protection for web, mobile apps, and APIs.
HUMAN Security (White Ops)
Bot mitigation and digital fraud prevention platform; major competitor in automated-attack defense.
Kasada
Bot mitigation provider focused on stopping automated threats against web apps and APIs.
Netacea
Server-side bot management platform using behavioral analytics.
Cloudflare Bot Management
Cloudflare's integrated bot management and application security offering.
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