// startup autopsy
Noname Security
API security unicorn sold to Akamai for half its peak valuation after CISO budgets froze.
competitionFire Sale
Distressed acquisition below last-round valuation
| Founded | 2020 |
|---|---|
| Closed | 2024 |
| Country | USA |
| Sector | Cybersecurity |
| Founder | Oz Golan, Shay Levi |
// the model, blind
Evaluating only Noname Security’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. Documented cause: Competition.
Key Events Timeline
FOUNDING
Oz Golan and Shay Levi founded Noname Security in Palo Alto targeting API visibility and threat detection.
FUNDING
Raised $135M Series C at $1B valuation; became fastest API security unicorn in history at the time.
LAYOFF
CISO budget freezes across Fortune 500 stalled pipeline; company laid off approximately 15% of staff mid-2023.
ACQUISITION ATTEMPT
Akamai acquired Noname Security for ~$450M in June 2024, a 55% discount to peak $1B valuation; brand retired.