DataDome, a leading provider of AI-powered online fraud and bot management, today announced its $42 million Series C funding round. This round was led by InfraVia Growth with participation from existing investors Elephant, ISAI and others to support DataDome in its mission to rid the internet of bot-driven cyberattacks and fraud.
Malicious bots are becoming more sophisticated by the second to bypass security measures, and the rise of human-bot combinations and AI-powered bots has made it easier to consistently bypass common point-in-time, static barriers such as WAFs, traditional CAPTCHAs, and user validation databases. In addition, silos between security and anti-fraud allow attackers to exploit vulnerabilities and launch attacks that span the entire customer journey and benefit from it. Online businesses suffer the consequences of automated cyberattacks and online fraud, and it’s a costly situation to get stuck in. Businesses need a solution that puts them back in the driver’s seat and empowers them to fight fraud.
“Bots have become a common avenue of fraud. In 2022 alone, DataDome stopped over 250 billion online fraud attempts in real-time,” said Benjamin Fabre, CEO and co-founder of DataDome. “Because of the way our product is designed and deployed, we have a unique view of attack vectors and can see across silos to stop attacks in their tracks. That’s why companies like Rakuten, Reddit, and AngelList trust us to protect their digital property. ”
“This cash injection will fund global commercial launch and R&D efforts to ensure our offering continues to raise the bar and stay ahead of bot developers and scammers,” Fabre continued. “In InfraVia we have an investor who trusts and shares our vision and who brings years of valuable experience in helping companies scale globally. Threat actors don’t stand a chance.”
DataDome’s bot and online fraud solution evaluates the intent of a visit in real-time, every time, to detect and mitigate attacks on mobile apps, websites, and APIs with unprecedented accuracy and without compromise. This performance is enabled by the solution’s ability to adapt machine learning algorithms in real time at the edge. DataDome protects 300+ businesses from account takeovers, scraping, payment fraud, DDoS, credential stuffing and more.
“We have been really impressed with the maturity of the DataDome solution and the company’s growth trajectory, particularly in the US,” said Guillaume Santamaria, Partner at InfraVia. “DataDome perfectly embodies our commitment to growth technology companies, and we fully support the team’s vision of bot management as the foundation for fighting online fraud. We very much look forward to the next phase of DataDome development and global reach.”