Israeli cybersecurity startup PerimeterX Inc. has raised $43 million in new funding to expand its product portfolio to address growing information security risks facing enterprises.
The Series C round was led by Scale Venture Partners and included Canaan Partners, Vertex Ventures, Data Collective and Adams Street Partners.
Founded in 2014 and with offices in Tel Aviv, Israel and San Mateo, Calif., PerimeterX offers a cybersecurity platform that protects against automated bot attacks through predictive security intelligence with reinforcement learning techniques.
Its core product, PX Bot Defender, offers “bot protection-as-a-service,” safeguarding online services from account takeover attacks, scraping, checkout abuse, carding attacks and marketing fraud.
Using machine learning based behavioral analytics to achieve what the company claims is “the highest level of detection accuracy and scalability,” Bot Defender slots into existing solutions through an API infrastructure that offers support for websites, mobile apps, content delivery networks, eCommerce engines and middleware.
Without sharing hard numbers, PerimeterX says that their revenue has increased by over 3,000 percent in the past two years.
Clients are said to include companies in the Fortune 500, the Alexa Top 1000 and the Internet Retailer 100, across verticals including eCommerce, travel and hospitality, financial services, media, and Software-as-a-Service.
“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,” Ariel Tseitlin, a partner at Scale Venture Partners and now new PerimeterX board member said in a statement. “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.”
Including the new funding, PerimeterX has raised $77.5 million to date.
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