Friday Funding: DataDome Raises $42 Million
By: James Flippin · March 31, 2023 · Reading Time: 2 minutes
DataDome is a startup that helps protect apps, websites, and APIs from software scripts posing as human users on social media — or what’s commonly known as “bots”. The cybersecurity company raised $42 million in a Series C round led by InfraVia Growth, bringing its total valuation to $82 million. Elephant and ISAI joined InfraVia Growth as partners in the raise.
This amount is particularly impressive considering cybersecurity funding dropped by one-third last year, amid the tough macroeconomic climate.
Any business that operates a website or app is at risk of bots — which, in 2021, composed roughly 42% of all internet traffic. The bots that cybersecurity firms like DataDome take on are automated programs that seek to do damage by harming websites, stealing content, committing payment fraud, taking over accounts, and more.
DataDome offers a scalable solution to help companies identify bots and protect their digital assets from bot-based attacks. CEO Benjamin Fabre plans to use the company’s fresh funding to support its commercial rollout, as well as to continue developing its core product.
Protecting Your Business
Bots prove an ongoing concern for even the most large-scale companies. Facebook (META) removed over 1 billion fake accounts in the last quarter of 2022 alone.
That’s why DataDome was founded. Companies have a hard time cracking down on bots because automated online activity differs from case to case, utilizing changing tech, and in some cases even benefiting rather than harming users. A single solution won’t fix bot issues, but DataDome believes its approach, which analyzes every web traffic request on an individual basis, will.
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