DataDome – a provider of AI-powered online fraud and bot management – announced a $42 million Series C funding round. This funding round was led by InfraVia Growth with participation from existing investors Elephant, ISAI, and others, to support DataDome on its mission to rid the web of bot-driven cyberattacks and fraud.
Malicious bots have been growing more advanced by the second to get past security measures and the rise of human-bot combinations and AI-powered bots have facilitated the consistent bypass of usual point-in-time, static barriers like WAFs, traditional CAPTCHA tech, and user validation databases. Plus the silos between security and fraud mitigation enable malicious attackers to take advantage of vulnerabilities and launch attacks that cut across the whole customer journey, profiting along the way. And online businesses are bearing the consequences of automated cyberattacks and online fraud, and it is a costly situation to be stuck in. Enterprises require a solution that puts them back in the driver’s seat and empowers them to fight fraud.
DataDome’s bot and online fraud solution assess the intent of a visit in real-time, every time, to detect and mitigate attacks on mobile apps, websites, and APIs with unparalleled accuracy and zero compromises. And the performance is made possible by the solution’s ability to adapt machine learning algorithms in real-time, at the edge. Plus DataDome protects over 300 enterprises from account takeover, scraping, payment fraud, DDoS, credential stuffing, and more.
KEY QUOTES:
“Bots have become a common path to fraud. In 2022 alone, DataDome stopped, in real-time, over 250 billion online fraud attempts. Because of how our product is built and deployed, we have a unique lens into attack vectors and can see across silos to stop attacks in their tracks. This is why enterprises like Rakuten, Reddit, and AngelList trust us to protect their digital properties.”
“This cash infusion will fund global commercial rollout and R&D efforts to ensure that our offering continues to raise the bar, and stays well ahead of bot developers and fraudsters. In InfraVia, we have an investor who trusts in and shares our vision, and brings years of valuable experience helping companies scale globally. Threat actors don’t stand a chance.”
— Benjamin Fabre, CEO and co-founder of DataDome
“We were genuinely impressed by the sophistication of DataDome’s solution, as well as the company’s growth trajectory, especially in the US. DataDome perfectly embodies our commitment to growth technology companies, and we fully endorse the team’s vision of bot management as a foundation for fighting online fraud. We are very much looking forward to the next phase of DataDome’s evolution and global scale.”
— Guillaume Santamaria, Partner at InfraVia
