California-based web security company PerimeterX announced on Monday that it raised $43 million in a Series C funding round, which brings the total raised to date to $77.5 million.
The funding round was led by Scale Venture Partners, with participation from existing investors Canaan Partners, Vertex Ventures and Data Collective (DCVC), and new investor Adams Street Partners.
PerimeterX says it plans on using the money to create new products – the company currently offers a bot detection and protection platform – and expand into new markets and verticals.
The company’s existing Bot Defender platform helps protect mobile applications, websites, APIs, e-commerce engines, CDNs and middleware against automated attacks. It does this by analyzing the behavior of the user and the device, and assigning it a risk score that determines whether the user is real or a bot.
According to PerimeterX, Bot Defender is used by Fortune 500, Alexa Top 1000 and Internet Retailer 100 brands, including Puma, SkyScanner, Zillow and Wix.
"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."
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