New York, USA-based leading provider of AI-powered online fraud and bot management, DataDome raised USD 42 million in Series C. The round took place on March 31, 2023. InfraVia Growth led the financing for the company. Meanwhile, existing investors Elephant, ISAI, and others joined in the round.
Purpose of financing for DataDome
With the latest proceeds from the Series C funding, DataDome seeks to focus on global commercial rollout.
It also has plans to strengthen its R&D efforts in order to enhance its offerings.
What the company’s officials have to say
Benjamin Fabre, CEO and co-founder of DataDome said, “Bots have become a common path to fraud. In 2022 alone, DataDome stopped, in real-time, over 250 billion online fraud attempts. 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.”
He further added, “This cash infusion will fund global commercial rollout and R&D efforts to ensure that our offering continues to raise the bar and stays well ahead of bot developers and fraudsters. In InfraVia, we have an investor who trusts in and shares our vision and brings years of valuable experience helping companies scale globally. Threat actors don’t stand a chance.”
What the investor has to say
Guillaume Santamaria, Partner at InfraVia, said, “We were genuinely impressed by the sophistication of DataDome’s solution, as well as the company’s growth trajectory, especially in the US. DataDome perfectly embodies our commitment to growing 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.”
About the company
Fabien Greiner and Benjamin Fabre launched the company in 2015. DataDome’s bot and online fraud solution assess the intent of a visit in real-time, every time, to detect as well as mitigate attacks. It works on mobile apps, websites, and APIs with impeccable accuracy and zero compromises. The firm solution has the ability to adapt machine learning algorithms in real-time, at the edge.
High-profile brands around the world, such as Reddit, Patreon, and AngelList, use the company’s platform. DataDome protects more than 300 enterprises from account takeover, scraping, payment fraud, DDoS, credential stuffing, and more.
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