Security News > 2021 > February > PerimeterX Banks $57 Million for Bot Protection Expansion
Looking to take advantage of a growing global market for its bot protection technologies, PerimeterX has banked a new $57 million round of venture capital funding.
PerimeterX said AllianceBernstein led the new capital raise, and was joined by new investors Stereo Capital, JS Capital and Golden Arc Capital.
PerimeterX sells behavior-based threat protection technology to help e-commerce giants deal with the pesky problem of bots ruining the online shopping experience.
Big-name companies like Nike, Walmart, Target and others routinely struggle to manage bots during shopping seasons and companies like PerimeterX have helped to fill that gap.
"Our investors deeply believe in our vision of protecting the modern web apps that fuel today's digital businesses with a single platform that works across hybrid edge-based infrastructure," said PerimeterX CEO Omri Iluz.
During the holiday shopping period from Thanksgiving to Cyber Monday, PerimeterX said it protected over $12 billion in e-commerce revenue and processed a record 93 billion requests.