Kasada has raised a $20 million funding round led by EQT, with participation from existing investors Ten Eleven Ventures, Main Sequence Ventures, Reinventure, Our Innovation Fund, the StepStone Group, and Turnbull & Partners.
The company said the new funding will support its next phase of growth, including expansion into new markets and accelerated product development across fraud prevention and agentic defense as enterprises prioritize resilient protections against automated abuse and AI-driven threats.
Founded in 2015, Kasada positions its platform as a frontline defense for highly targeted enterprises facing rising online fraud, abuse, and malicious automation. The company said it safeguards more than $150 billion in e-commerce revenue and helps defend against threats such as account takeover, data scraping, AI-powered fraud, and API exploitation by distinguishing legitimate users and activity from automated abuse without adding friction for customers.
Kasada said it has gained market recognition for product performance, including being named a Strong Performer in a 2024 Forrester Wave report on bot management software and receiving multiple industry awards in 2025. The company also framed its product roadmap around a broader concept of unified digital trust, combining customer intelligence and agentic defense as AI copilots and agentic tools increasingly shape online behavior.
Chief Executive Officer Sam Crowther said enterprises are urgently demanding stronger defenses against automated abuse and emphasized Kasada’s approach of detecting attacks at the earliest point where automation begins. Kasada said this helps reduce operational costs while improving security outcomes, citing an average return on investment of more than 250%, largely driven by cost savings. The company added that it plans to expand its platform to secure digital experiences across areas such as login, signup, payments, APIs, and AI applications, while maintaining a low-friction experience for legitimate users.
EQT said the investment reflects its focus on backing ambitious companies at different stages and described Kasada’s evolution beyond bot mitigation toward a broader system of intelligence for digital trust. EQT said it intends to support Kasada’s growth with its global network and resources as the company scales its vision.
KEY QUOTES
“Enterprises are demanding a new way to defend themselves from automated abuse, and
they’re demanding it urgently. By detecting attacks at the earliest point, where automation begins, we protect our customers long before fraud can take root, spread through systems, or degrade user experience. This approach reduces operational cost while dramatically improving security outcomes – to date, our average return on investment is over 250% driven largely by cost savings. This new investment enables us to expand globally and deliver a broader, end-to-end trust platform that secures every digital experience across login, signup, payments, APIs, and AI applications, without introducing friction to legitimate users.”
Sam Crowther, Founder & CEO, Kasada
“This investment marks EQT’s second venture growth partnership with an Australia-headquartered company and reflects EQT’s commitment to backing ambitious companies at every stage of their journey. Kasada is redefining how enterprises protect themselves in an AI-enabled world, moving beyond bot mitigation to help shape the future of digital trust. We’re excited to bring EQT’s global network and resources to help accelerate this vision as Kasada evolves into a true system of intelligence.”
Frank Heckes, Co-Head of EQT Private Capital Australia and New Zealand, EQT
