PerimeterX, a developer of cybersecurity solutions for websites and mobile applications, has bagged $43m for its Series C round.
The capital injection was led by Scale Venture Partners, with participation also coming from previous backers Canaan Partners, Vertex Ventures and Data Collective (DCVC). Adams Street Partners also contributed to the round, making its first investment into PerimeterX.
Following the close of the round, the RegTech company will look to expand its current product portfolio and offer new tools to combat the growing range of security threats facing digital operations and websites.
PerimeterX has built a bot mitigation solution which analyses customers of billions of daily events and uses this to prevent bot attacks launched from around the world by utilising millions of IP addresses and IP enabled-devices.
Its Bot Defender solution helps to protect websites and mobile apps from account takeover attacks, scraping, checkout abuse, carding attacks and marketing fraud. The API is able to integrate with existing components of an enterprise and utilises real-time behaviour-based detection and predictive intelligence to ensure protection.
Scale Venture partner Ariel Tseitlin said, “As more and more devices are connected to the Internet, we’re seeing exponential growth in the number and type of information security attacks against companies with significant online and mobile presences. PerimeterX’s technology has proven to be the most scalable, accurate, and developer-friendly offering on the market. It’s like Stripe for bot defense.”
As part of the deal, Ariel Tseitlin has joined the PerimeterX board, bringing his deep domain expertise in developer-facing cloud computing products and information security.
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