PerimeterX, an Israeli cyber startup, closed a $57 million funding round. The investment was led by AllianceBernstein, with participation from Golden Arc Capital, JS Capital, Stereo Capital, Adams Street Partners, Scale Venture Partners, DTCP, Canaan Partners, and Vertex Ventures US.
“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,” said PerimeterX CEO Omri Iluz.
Find the bot
The PerimeterX platform focuses on identifying threats and determining their source, preventing both human and bot attacks. Operating in the web and mobile apps, and API markets, PerimeterX developed a system that learns from collected data to better prevent attacks before they cause any harm.
The company’s products are relevant to the online and mobile apps, and API markets. Therefore, PerimeterX developed a system that learns from collected data how to prevent potential data breaches beforehand.
There are different factors to take into consideration when determining if the user is a bot or human. PerimeterX determines the right behavior based on a few peculiar characteristics, like when the mouse cursor is placed directly on the button, without having to move it there, as well as up and down scrolling, and more. The more the Israeli company’s system learns human behavior online, the better it builds more advanced models to identify non-human actions.
92 billion requests during the holidays
PerimeterX reports onboarding 50 new customers during 2020, and monitoring transactions totaling $100 billion. The company’s platform helped solve over 90 billion requests during the recent $12 billion holiday season. PerimeterX also extended its capabilities with enhanced blocking for its flagship product, Code Defender, to reduce the risk of client-side data breaches. It added protection for account takeover attacks, a new verification to give customers choices beyond visual CAPTCHA, and a unified user dashboard to proactively manage new and emerging threats. It also further expanded its ecosystem with new and enhanced integrations--including with Amazon AWS, Google Cloud Platform (GCP), Microsoft Azure, Snyk, DataDog and Splunk.
“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,” added Iluz.
PerimeterX was founded in 2014 by CEO Omri Iluz, CTO Idan Safruti, and CFO Ophir Ashkenazi. The company’s R&D center is located in Israel, while headquarters sit in San Mateo, California. The company has reached $144 million in total fundraising to date.