PerimeterX Raises $43M In Series C Funding
February 11, 2019

PerimeterX has secured $43 million in Series C funding 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.

Scale Venture Partners led the round with participation from existing investors Canaan Partners, Vertex Ventures and Data Collective (DCVC). They were joined by new investor Adams Street Partners.

"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," said Omri Iluz, CEO of PerimeterX. "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.

"Given the significant rise of cyber-attacks globally, PerimeterX's ability to rapidly deploy its service to protect its customer is a true differentiator," explained Fred Wang of Adams Street Partners. "Unlike other systems, PerimeterX Bot Defender accurately identifies and blocks attacks before they even start. We believe this unique solution is well positioned in the marketplace and feel the planned expansion of their product portfolio will lead to continued strong growth in their business."

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