DataDome Raises Another $42M To Prevent Bot Attacks In Real Time – AlleyWatch

Bot attacks, automated cybersecurity intrusions that mimic human behavior on a large scale, are increasing in intensity, frequency, and complexity. In fact, 27.7% of all online traffic is due to malicious bots attempting to perform malicious destructive actions such as account takeover, scraping, form and API abuse, and payment fraud that leaves businesses vulnerable. It is presumed to be data dome A SaaS platform focused on enterprise bot attack and online fraud detection and prevention. The company uses a proprietary machine learning engine to assess internet access in real time (less than 2 milliseconds) and uses over 3 million signals to detect attacks against apps, websites and APIs at a 99.99% rate. Protected with precision. DataDome is trusted by over 300 organizations including ZocDoc, Foot Locker, Rakuten, Reddit, Asus, Tripadvisor, McDonald’s and more. Last year, the company thwarted more than 250 billion of his online fraud attempts.

alley watch Catch up with DataDome’s CEO and Founder Benjamin Fabre To learn more about the business, the company’s strategic plans, the latest funding round, and more…

Who are your investors and how much did you raise?
This is a $42 million Series C funding round.This round was led by Growth of Infraviawith the participation of existing investors Elephant, ISAIand other companies support DataDome in its mission to rid the web of bot cyberattacks and fraud.

What products or services does DataDome offer?
DataDome’s solutions help protect websites, mobile apps, and APIs from automated cyberattacks and online fraud. Machine learning at the edge and a 24/7 threat intelligence team prevent bot fraud, including fake account creation, account takeover, and credential theft. DataDome detects and responds to sophisticated attacks with unmatched speed and accuracy without compromising the consumer experience. Our AI-powered bot detection engine processes over 3 trillion signals daily, protecting the largest global online businesses in real time.

What inspired you to start DataDome?
Founded DataDome in 2015 with a longtime business partner. Fabian GrenierWe are entrepreneurs with a long track record in scalable web infrastructure, AI-powered data stream processing, SaaS technologies, digital strategy, and cybersecurity.
Having worked with digital companies in our previous jobs, Fabien and I found that most companies were unable to detect and block even the simplest bots, ultimately exposing their vulnerabilities to fraudsters. . We knew we needed a solution that could block automated online threats in a different way. I had to deviate from my usual approach. Static rules are always lagging behind, no matter how fast they update.
We made a key decision to build ML at the edge to evaluate every request to our website, mobile app, or API. Doing this in real-time without impacting the end-user experience was a big challenge. But we finally achieved what we were trying to do. Since we founded the company, the level of sophistication of bots and the pain they cause has skyrocketed. Our decision to deviate from ‘business as usual’ is what propels DataDome into leadership positions.

What makes the DataDome different?
There is often a trade-off between speed and accuracy among other bot and online fraud prevention providers. Not a DataDome. Unlike other solutions, DataDome uses machine learning overseen by an in-house Security Operations Center (SOC) to detect and respond to attacks with unparalleled speed, accuracy, reliability, and expertise. , to stop fraud before it happens. In other words, we offer automatic detection with 24/7 adult supervision.
We also offer the most integrations, the highest transparency, and a unique consumer-focused approach. Make it finer:

• The only real-time detection on the market: DataDome newly analyzes each request in real-time (<2ms) using a variety of techniques. Vulnerability scan rule. IP/Autonomous System Reputation; Session Reputation; HTTP/JS/Device Fingerprinting; TLS Fingerprinting; A new bad bot is detected every millisecond.
• Unmatched configurability: 100% infrastructure compatible, the DataDome requires no application changes. Thanks to 20+ out-of-the-box connectors, the ability to add JS tags to your pages in a few clicks, and an optimized SDK, setup and configuration is complete autonomy in less than 5 minutes. For customers under attack, fully effective protection is achieved within 10 minutes of activating a DataDome account.
  DataDome offers the first privacy-compliant, secure, and easy-to-use CAPTCHA to stop today’s most stealthy bots. DataDome Online Features
• DataDome’s CAPTCHA, a fraud and bot management solution, complies with local data privacy laws around the world and is fully integrated into its detection engine to provide superior protection and an enhanced user experience. DataDome does not show his 99.99% CAPTCHA of real users.
• Invisible to end users: DataDome high availability and no added latency make protection completely invisible to 99.99% of end customers. Users with difficult sessions benefit from an enhanced user experience and industry-leading privacy protections. The DataDome has an undetectable false positive rate of 0.01%.
• Superior performance: We process over 3 trillion data every day. Latency is minimized with global elastic computing capabilities. It takes less than 2 milliseconds for the detection engine to make a decision. High availability (>99.99% SLA) and redundancy are guaranteed by DataDome’s 25 global locations from multiple cloud providers (AWS, Azure, GCP, OVH, Vultr, etc.). Scalability relies on DataDome’s infrastructure to automatically absorb up to 200x your average traffic in less than a minute.

What is DataDome’s target market and size?
All businesses with an online presence, regardless of industry, need online fraud and bot protection. His 50% of online traffic consists of bots, which cybercriminals use to target online businesses with fraud and other attacks. There is no denying that bots – bots that are constantly evolving to evade security measures – are disrupting digital business operations and putting data security and CX at risk. Ask retailers about the launch of the Sony PS5, or about major brands such as TicketMaster and Nike, who recently made headlines in their fight against bots.
Online businesses are affected by automated cyberattacks and online fraud, and we know it’s a costly situation to get stuck. Businesses need cybersecurity solutions that put them back in the driver’s seat and empower them to fight fraud. That’s what we are here for. In 2022 alone, we stopped over 250 billion fraud attacks!
Over 300 businesses worldwide trust DataDome across industries such as e-commerce, media, travel, ticketing, healthcare, municipal government and more. Empower them with the data they need to fight online fraud. This is a win for everyone, except for scammers and threat actors.

Over 300 businesses worldwide trust DataDome across industries such as e-commerce, media, travel, ticketing, healthcare, municipal government and more. Empower them with the data they need to fight online fraud. This is a win for everyone, except for scammers and threat actors.

what is your business model?

SaaS with services.

How are you preparing for a potential economic slowdown?
We have always invested in providing the best possible solutions to protect our customers from bots and online fraud. more than 100% year-on-year). Our solutions have proven to be essential for your digital business. Not only does it help customers reduce risk, it also positively impacts their bottom line. He cuts the cost of fraud by 95%, making a significant contribution to optimizing cloud costs.

What was the fundraising process like?

To be honest, I wasn’t planning on raising any money at this point. But InfraVia shares our vision of bot mitigation as the cornerstone of online fraud prevention, making it a compelling case!

What was the biggest challenge you faced in raising capital?
We are fortunate to have achieved great growth with a very responsible cash efficiency. So funding was about finding the right partner for the next stage of growth. This was done with InfraVia. We are also very grateful for the continued support of our previous investors who share our vision for the market.

What factors in your business are driving investors to write you checks?
As Guillaume Santamaria InfraVia’s partner (who led this funding round) said: DataDome perfectly exemplifies our commitment to growing a technology company and fully supports the team’s vision of bot management as the foundation for fighting online fraud. We are very much looking forward to the evolution of DataDome and the next phase of global scale. ”

What milestones do you plan to achieve in the next six months?
We will continue to do everything in our power to stop fraudulent activity. That means we will block more online fraud attempts than in 2022. We are also working on some new products that I am particularly excited about and would be happy to help with. We’ll let you know shortly as we get closer to launch.

We will continue to do everything in our power to stop fraudulent activity. That means we will block more online fraud attempts than in 2022. We are also working on some new products that I am particularly excited about and would be happy to help with. We’ll let you know shortly as we get closer to launch.

What advice can you give to New York companies that haven’t injected fresh capital into their banks?
Every situation is different, but in my opinion customer centricity is the key to success. Are you solving the big pain points for your customers? Are you doing better than other providers on the market? Are you demonstrating value from day one? After all, growth is driven by customer adoption. increase.

Where do you see the company going now in the near future?
Online fraud is a very large and looming threat and the market is growing, ensuring that our solutions remain award-winning competitive and stay ahead of bot developers and scammers. To achieve this, we plan to focus on global commercial expansion and R&D efforts.

Where is the best location in the city to host an offsite team?

We are a global company and are lucky to connect with our colleagues offsite abroad.

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