Looking to take advantage of a growing global market for its bot protection technologies, PerimeterX has banked a new $57 million round of venture cap
Looking to take advantage of a growing global market for its bot protection technologies, PerimeterX has banked a new $57 million round of venture capital funding.
The San Mateo, Calif,-based company said the new money would drive its push into new geographies and verticals.
The six-year-old startup has raised a total of $144 million from a range of venture capital investors.
PerimeterX said AllianceBernstein led the new capital raise, and was joined by new investors Stereo Capital, JS Capital and Golden Arc Capital. Adams Street Partners, Canaan Partners, DTCP, Scale Venture Partners and Vertex Ventures US also participated.
PerimeterX sells behavior-based threat protection technology to help e-commerce giants deal with the pesky problem of bots ruining the online shopping experience. Big-name companies like Nike, Walmart, Target and others routinely struggle to manage bots during shopping seasons and companies like PerimeterX have helped to fill that gap.
“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,” said PerimeterX CEO Omri Iluz.
He said PerimeterX grew its customer base by 50 logos, including some of the top brands in retail e-commerce and financial services.
The company claims it protected more than $100 billion in e-commerce revenue in 2020 and processed over 2 billion login requests per day. During the holiday shopping period from Thanksgiving to Cyber Monday, PerimeterX said it protected over $12 billion in e-commerce revenue and processed a record 93 billion requests.