Cybersecurity is a major concern for businesses of all sizes. In 2020, cyberattacks surged by 600%, with bot-based attacks being one of the most common forms of cybercrime. In response, AI-powered cybersecurity startup, DataDome has secured $42 million in series B funding to help fight the bot-based attacks that threaten many companies.
DataDome’s technology
The technology developed by DataDome is designed with the specific purpose of assisting companies in the fight against bot-based attacks, which are increasingly responsible for cybersecurity breaches. The technology uses machine learning algorithms to analyze website traffic, identify the source of the traffic, and then determine whether the traffic is coming from bots or legitimate users.
Once identified, DataDome’s technology can take several actions to prevent bot-based attacks. For example, it can block malicious bots from accessing the site, or it can slow down the access speed of bots to prevent them from causing damage.
DataDome’s technology is in high demand with the surge in bot-based attacks. The company states that it has deployed its technology on over 10,000 websites worldwide. Companies from various industries, including e-commerce, gaming, and finance, use its technology
Series B funding
The $42 million in series B funding will allow DataDome to further develop its technology and expand its customer base. The funding was led by Eurazeo, a global investment firm, with participation from Bpifrance, ISAI, and Ventech. In a statement, Eurazeo’s Managing Partner, Nathalie Kornhoff-Brüls, said, “We are proud to support DataDome in its mission to protect businesses against bot-based attacks. The team has proven its ability to innovate and deliver a truly valuable service to its customers, and we look forward to seeing its continued success.”
Expansion plans
With the new funding, DataDome plans to expand its operations globally, with a particular focus on the US market. The company also plans to invest in new product features lik real-time bot mitigation and advanced threat intelligence. In addition, DataDome plans to double its team size, on hiring new talent in its research and development division.
Conclusion
DataDome’s success in securing $42 million in series B funding is a testament to the growing importance of cybersecurity in today’s business landscape. With bot-based attacks on the rise, DataDome’s technology is well-positioned to help companies protect themselves from this growing threat. As DataDome continues to expand, we will likely see more companies adopting its technology to safeguard their businesses from bot-based attacks. With the help of machine learning and AI, companies can stay one step ahead of cybercriminals and keep their businesses secure.
