Approov secures GBP £5 million to advance mobile app security
Approov has closed a GBP £5 million (USD $6.7 million) Series A funding round to advance its mobile app and API security solutions.
The investment round was led by the Investment Fund for Scotland, managed by Maven Capital Partners. Souter Investments and prior backers Lanza techVentures and Scottish Enterprise also took part in the funding. Approov plans to use the additional capital to expand its Edinburgh-based Research and Development team, with the goal of building new technologies to defend mobile applications and application programming interfaces (APIs) from constantly evolving cyber threats, including those powered by artificial intelligence.
Regulatory landscape
The allocation of new funds comes at a time when global regulatory requirements for digital platforms and services are evolving. Legislation such as the European Union's Digital Markets Act (DMA) and the UK's Digital Markets, Competition, and Consumers (DMCC) bill are reshaping the way mobile applications are distributed and managed. These laws are intended to increase competition in a market previously dominated by major platforms such as Apple and Google.
Approov's technologies enable developers to distribute their apps directly to users, circumventing established platforms and the associated fees. By doing so, developers are positioned to reclaim up to 30% of revenues typically yielded to platform operators.
Platform and technology
The core of Approov's offering is its patented app attestation solution, which protects against app tampering and unauthorised API access. This addresses a critical challenge as the threat environment rapidly changes, particularly with the increasing capability of adversaries using artificial intelligence.
"As the threat landscape continues to evolve, developers and enterprises alike are recognizing that mobile app security cannot be an afterthought. This funding marks a pivotal moment in our mission to ensure that every mobile app instance is authenticated and that backend APIs are protected from fraud, abuse, and unauthorized access." - Ted Miracco, CEO of Approov
Approov's technology is designed to provide security in real time, with the company highlighting its cloud-first approach as an alternative to traditional code obfuscation methods. The protection mechanisms are deployed to defend against attacks such as those launched from rooted devices, emulators, tampering tools, and credential-stuffing bots. Their platform is trusted by organisations in sectors ranging from healthcare and financial technology to connected vehicles and eCommerce.
Investor perspectives
Dr. Edward Amoroso, CEO of TAG Infosphere and former Chief Information Security Officer at AT&T, commented on the sector's challenges:
"As mobile ecosystems face AI-driven threats and new regulations like the EU Digital Markets Act and UK consumer laws, the need for strong, independent app and API security is urgent. Approov delivers essential trust across fragmented platforms, including non-GMS Android and HarmonyOS. Maven Capital Partners' investment reflects growing recognition that API protection - across any device or OS - is key to securing digital infrastructure in this new cyber risk era."
Approov's intellectual property was a significant factor in attracting investor attention this round. Its patented technology enables real-time app attestation and runtime API protection, features that investors view as central to contemporary mobile security needs.
Craig McGill, Investment Manager at Maven Capital Partners, said:
"Approov is a leading innovator in mobile app and API security with proven applications in multiple target sectors. With their strong IP and the growing demand for API-level defences across the industry, the business is uniquely positioned to lead this next era of mobile security. We look forward to working with Ted and the team to drive the business forward at such an exciting point in the company's growth journey."
Dr. Lucio Lanza, Chairman of Approov and Founder of Lanza techVentures, added:
"This investment validates Approov's vision of a safer mobile app ecosystem. With increasing cyber risks driven by AI, Approov solutions provide the robust, scalable security mobile developers need to protect their applications and API communications. We are grateful for the confidence our investors have shown and are excited about the opportunity to expand our footprint in this critical market."
Impact and reach
Approov reports that its app attestation technology has been adopted by large organisations in sectors with high security requirements. The company claims its technology can cut API attacks by over 95% and prevent various attack types including bot attacks and man-in-the-middle exploits.
The company aims to leverage the newly secured funds to continue developing security technology needed to meet current and future regulatory demands and technology threats. It also expects to further its market reach, particularly in industries where secure mobile engagement is fundamental.
