DataDome, which has built an AI-powered online fraud and bot management platform, has closed its Series C funding round on $42m.
InfraVia Growth served as the lead investor. Commitments also came from Elephant, ISAI and other unnamed backers.
With the capital, DataDome will bolster its global commercial rollout, as well as its R&D efforts.
The RegTech company is on a mission to rid the web of bot-driven cyberattacks and fraud.
DataDome’s platform assesses the intent of a visit in real-time to detect and mitigate attacks on mobile apps, websites, and APIs. It claims to protect over 300 enterprises from account takeover, scraping, payment fraud, DDoS, credential stuffing and more.
The platform also offers threat analysis. This allows users to see when an attack happened, its duration, where it originated from, the domains and endpoints targeted and how it compares with other similar threats.
DataDome CEO and co-founder Benjamin Fabre 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.”
InfraVia partner Guillaume Santamaria added, “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 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 other RegTech news, LeapXpert, which stylises itself as the responsible business communication pioneer, netted $22m for its Series A+ funding round.
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