Israeli bot protection co PerimeterX raises $43m

PerimeterX founders Photo: PR

PerimeterX will expand its product portfolio to address the growing variety of information security risks facing enterprises on their web and mobile properties and their APIs.

Israeli bot detection and protection company PerimeterX has raised $43 million in a Series C financing round led by Scale Venture Partners and with participation from existing investors Canaan Partners, Vertex Ventures and Data Collective (DCVC) and new investor Adams Street Partners.

With offices in Tel Aviv and San Mateo, California, the company was founded in 2014 by CEO Omri Luz, CTO Ido Safruti and CFO Ophir Ashkenazi, all former executives at mobile app acceleration company Cotendo. PerimeterX will use the new funds to expand its product portfolio beyond its PX Bot Defender offering to address the growing variety of information security risks facing enterprises on their web and mobile properties and their APIs.

Iluz said, “After adopting PX Bot Defender, and experiencing the immediate impact it had on their security posture, our customers asked us to help secure their assets from additional expanding threats, enhancing our out-of-band scalable platform. This new funding, plus our rapidly growing revenue - which has increased by over 3,000% in the past two years - will allow us to expand our platform by leveraging collective insights to defend customers against a much broader range of threat types.”

PerimeterX’s bot mitigation solution analyzes for its customers tens of billions of events daily and prevents bot attacks launched from dozens of countries around the world utilizing millions of IP addresses and IP enabled-devices.

“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,” said Ariel Tseitlin, a partner at Scale Venture Partners, who joined the company’s board as part of the Series C financing and has deep domain expertise in developer-facing cloud computing products and information security. “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.”

PerimeterX’s API integrates seamlessly with multiple components of a company’s technology infrastructure including websites, mobile apps, content delivery networks, eCommerce engines and middleware. Developers and DevOps teams can rapidly add PerimeterX to new or legacy systems with minimal disruption and zero downtime.

PerimeterX’s fast growing list of customers includes 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.

Published by Globes, Israel business news - en.globes.co.il - on February 11, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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PerimeterX founders Photo: PR
PerimeterX founders Photo: PR
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