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March 31, 2023

DataDome Raises $42 Million in a Series C Funding Round

The future of cybersecurity - machine learning to combat bot attacks

DataDome, a provider of bot management services for detecting threats such as account takeovers, credential stuffing, fake account creation, and payment fraud orchestrated by bots, has raised $42 million in a Series C funding round. The funding was led by InfraVia Growth and included participation from existing investors Elephant, ISAI, and others. With the funds, DataDome plans to continue developing its AI-powered online fraud and bot management services to combat bot-driven cyberattacks and fraud.

Founded in 2015, DataDome offers Software-as-a-Service (SaaS) bot protection services for mobile apps, websites, and APIs. A variety of e-commerce businesses utilize the company's services, including clothing, footwear, tickets, and electronics merchants. DataDome's bot and online fraud protection services analyze website, mobile app, and API traffic in order to detect and mitigate attacks without compromising the user experience.

“Bots have become a common path to fraud. In 2022 alone, DataDome stopped, in real time, over 250 billion online fraud attempts,”

- outlines the CEO and co-founder of DataDome, Benjamin Fabre.

“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.”

Over 300 enterprises are protected by DataDome against various online threats, such as account takeover, scraping, payment fraud, DDoS, credential stuffing, and others. In addition to having offices in North America, Europe, and Asia, the company has 180 employees hailing from more than 30 countries. With the support of Fireside and 50inTech, DataDome is working to promote gender parity and foster an inclusive work environment for women in the tech industry.

“We were genuinely impressed by the sophistication of DataDome’s solution, as well as the company’s growth trajectory, especially in the US,”

- comments Guillaume Santamaria, Partner at InfraVia.

“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.”

In the event of a bot attack on an organization's website, DataDome provides round-the-clock assistance with a team of threat intelligence specialists. In this way, the organizations are able to effectively handle the incident and ensure continuity of their regular operations.

Elitsa Kaleva
Elitsa Kaleva
Content Writer at TechNews180
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