Palo Alto, California-based Contrast Security, a provider of software application security, announced it raised $16 million in a Series B round of funding. General Catalyst Partners led the round, which included Acero Capital, as well as individual investors Ron Gula, founder of Tenable Network Security; Paul Sagan, former chief executive of Akamai Technologies; and John W. Thompson, chairman of Microsoft Corp. The company has now raised $24 million in funding. As part of the latest round, Steve Herrod, managing director of General Catalyst, has joined the board.