Approov Secures £5M Series A for AI-Era Mobile App Security
Edinburgh-based Approov Limited, a pioneering force in mobile app and API security, has successfully closed a significant £5 million (approximately US$6.7 million) Series A funding round. This substantial investment, spearheaded by the Investment Fund for Scotland, managed by Maven Capital Partners, also saw vital participation from Souter Investments and existing backers Lanza techVentures and Scottish Enterprise. The capital injection is set to dramatically accelerate Approov’s mission to redefine mobile app security for the burgeoning AI era, a period marked by increasingly sophisticated digital threats.
Approov, founded in 2012, has carved a niche in the cybersecurity landscape with its patented mobile attestation technology. This innovative solution offers real-time app attestation and runtime API protection, serving as a critical defense against a growing array of exploits. Unlike traditional, often reactive, security measures, Approov’s cloud-first approach continuously verifies the integrity of both the app and the device it runs on, ensuring that only genuine, untampered applications can access sensitive backend services. This proactive stance helps thwart attacks from tools such as rooted devices, emulators, app tampering frameworks, credential stuffing bots, and man-in-the-middle attacks across iOS, Android, and HarmonyOS platforms. The company also provides real-time threat analytics, offering crucial visibility into the security posture of mobile applications and enabling effective countermeasures.
The urgency for robust mobile app and API security has intensified with the pervasive integration of Artificial Intelligence into mobile ecosystems. As AI-driven threats accelerate, traditional methods like code obfuscation are proving insufficient to keep pace with the evolving sophistication of cybercriminals. Furthermore, new regulations such as the EU Digital Markets Act and various UK consumer protection laws are reshaping the mobile app landscape, emphasizing the critical need for strong, independent security solutions. Approov’s technology empowers developers to securely distribute applications directly to consumers, even navigating the complexities introduced by these new regulatory frameworks.
The newly secured funds will be strategically deployed to bolster Approov’s Research and Development team in Edinburgh, fostering the creation of even more advanced technologies designed to combat real-time, AI-powered threats. Beyond technological advancement, the investment will also fuel the company’s sales and marketing efforts, facilitating expanded market reach, diversification into new sectors, and a broader international footprint. Approov’s robust solution is already trusted by a diverse global clientele across critical sectors including healthcare, fintech, connected vehicles, and e-commerce, underscoring its proven efficacy in hostile digital environments. The company’s innovative efforts were recently recognized with the Cyber Innovation Award at the Scottish Cyber Awards.
Maven Capital Partners, managing the Investment Fund for Scotland, plays a pivotal role in supporting ambitious Scottish businesses with growth capital, making their lead investment in Approov a natural fit within their strategy to back innovation and expansion. Existing investors Lanza techVentures, a Palo Alto-based firm known for its focus on early-to-mid-stage companies with strong intellectual property in sectors like semiconductors and enterprise software, reaffirms its confidence in Approov’s trajectory. Similarly, Scottish Enterprise, Scotland’s national economic development agency, continues its support for high-growth potential companies that drive innovation and economic transformation. Souter Investments, the private investment vehicle of Sir Brian Souter, also brings significant backing, reflecting a broad investor belief in Approov’s potential.
Ted Miracco, CEO of Approov, emphasized the critical nature of this funding, stating that mobile app security can no longer be an afterthought. He highlighted the investment as a “pivotal moment” in the company’s mission to ensure every mobile app instance is authenticated and backend APIs are protected from fraud, abuse, and unauthorized access. Craig McGill, Investment Manager at Maven Capital Partners, echoed this sentiment, noting Approov’s strong intellectual property and its unique position to lead the next era of mobile security. Dr. Edward Amoroso, CEO of TAG Infosphere and former Chief Information Security Officer at AT&T, further underscored the urgent need for robust, independent app and API security in the face of escalating AI-driven threats and regulatory pressures, affirming that API protection is paramount to securing digital infrastructure in this new cyber risk era.
As mobile applications become increasingly integral to daily life and AI continues to reshape the digital threat landscape, companies like Approov are at the forefront of building the essential trust and security infrastructure required for a safer mobile ecosystem.