Automated cyberattacks and online fraud are having a negative impact on internet enterprises, and it is an expensive scenario to be in. Businesses require a solution that puts them back in control and gives them the tools they need to combat fraud. Bots are already a widespread way for people to commit fraud, yet in 2022, DataDome blocked over 250 billion online fraud attempts in real time.
DataDome, a firm that uses AI to manage online fraud and bots, raised $42 million in investment. Together with participation from current investors such as Elephant, ISAI, and others, InfraVia Growth, which supported Packhelp and Foodles, led the financing round.
This round brings the company’s total capital raised to $82 million. The cash will aid DataDome in its effort to purge the web of bot-driven fraud and cyberattacks. As the CEO and co-founder of DataDome, Benjamin Fabre explained in an interview with TFN, “it will also support the global commercial rollout and R&D initiatives to ensure that our product maintains its highly regarded, award-winning competitive edge and stays ahead of fraudsters and bot developers.”
According to Fabre, “This infusion of cash will support global commercial rollout and R&D efforts to ensure that our offering maintains its award-winning competitive edge and stays far ahead of bot developers and fraudsters.” “With InfraVia, we have a partner who believes in our mission, supports it, and has years of invaluable experience assisting businesses in scaling internationally. Threat actors are completely outmatched.”
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 wonderfully exemplifies our dedication to fostering the development of technology enterprises, and we wholeheartedly support the team’s idea of using bot control as a cornerstone to combat online fraud. We are eagerly anticipating the next stage of DataDome’s development and global reach.
Created to stop assaults with bots
Benjamin Fabre and Fabien Grenier, two seasoned business partners and serial entrepreneurs with remarkable backgrounds in SaaS technologies, scalable online infrastructures, AI-powered data stream processing, digital strategy, and cybersecurity, created DataDome in 2015. The founders discovered that many were vulnerable to fraudsters since they were unable to identify and stop even the most basic of bots.
The team currently consists of 180 individuals from more than 30 different countries, and the business has locations in North America, Europe, and Asia. DataDome collaborated with 50inTech, an organization dedicated to establishing safe and welcoming workplaces for women, as well as Fireside, a European organization promoting gender parity in the technology sector.
Utilizes AI to stop and identify online fraud
With precision and no compromises, DataDome’s bot and online fraud protection can identify and stop assaults on websites, APIs, and mobile apps. In order to quickly respond to emerging threats, its machine learning technology analyses 3 trillion data points every day. In addition to hundreds of well-known companies throughout the world, such as Reddit, Patreon, and AngelList, it safeguards over 300 enterprises against account takeover, scraping, payment fraud, DDoS, credential stuffing, and other threats.
