Israeli web apps protection company PerimeterX today announced that it has completed a $57 million financing round led by AllianceBernstein and joined by new investors Stereo Capital, JS Capital and Golden Arc Capital, with support from existing investors Adams Street Partners, Canaan Partners, DTCP, Scale Venture Partners and Vertex Ventures US.
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.
Iluz said, "Our investors deeply believe in our vision of protecting the modern web apps that fuel today’s digital businesses with a single platform that works across hybrid edge-based infrastructure. This latest round of growth financing is a testament to the uniqueness of our vision in the industry. It gives us the runway to extend our market reach beyond our core retail e-commerce vertical into new industries where we see strong uptake such as financial services. And it enables us to further develop geographies where we have a foothold including EMEA and APAC."
AllianceBernstein growth stage capital managing director Abhishek Sud said, "We see global market opportunities for PerimeterX solutions growing at a rapid pace and gaining strong traction across businesses experiencing an accelerated pace of digital transformation. The cloud-native PerimeterX Platform makes it very simple for customers to integrate PerimeterX products into their existing infrastructure to protect their digital business. We are confident that additional funding will help the company accelerate its innovation and maintain its leadership position."
The growth capital funding round for PerimeterX caps off a record fiscal year 2021, which ended on January 31, 2021 with 50 new major customers. PerimeterX protected over $100 billion in e-commerce revenue in 2020 and processed over 2 billion login requests per day. During Cyber 5, the holiday shopping period from Thanksgiving to Cyber Monday, the company protected over $12 billion in e-commerce revenue and processed a record 93 billion requests.
Published by Globes, Israel business news - en.globes.co.il - on February 23, 2021
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