French cyber security firm DataDome raises $42m in funding round

French cyber security firm DataDome raises $42m in funding round

(IN BRIEF) DataDome, a French-based company that provides a platform for detecting and blocking malicious automated traffic on websites, mobile apps, and API endpoints, has raised $42 million in a Series C funding round. The round was led by InfraVia Growth and included participation from Elephant, Isai, and earlier investors. The funds will be used to continue developing DataDome’s solutions and to expand the company’s global commercial roll-out. The company’s machine learning algorithms and real-time detection capabilities have earned it recognition as a best-in-class solution by analysts such as Gartner and Forrester.

(PRESS RELEASE) PARIS, 30-Mar-2023 — /EuropaWire/ —  InfraVia Capital Partners, a leading independent European private equity firm focused on infrastructure and technology investments, announces that DataDome, a leading online fraud and bot management platform, has secured USD 42 million in a Series C funding round led by InfraVia Growth. Elephant, Isai, and earlier investors also participated in the funding round to support DataDome’s mission to eliminate bot-driven cyberattacks from the web.

DataDome’s solutions protect large customers’ digital properties against various types of malicious traffic, including denial-of-service, scraping, credential stuffing, fake account creation, and more. The company has achieved significant market share with large e-retailers and also serves customers in insurance, banking, media, and other verticals. The company plans to continue its aggressive growth in the US and Europe, leveraging the round proceeds.

Founded in 2015 by Benjamin Fabre and Fabien Grenier, DataDome has built a category-leading product to detect and block malicious automated traffic on customers’ websites, mobile apps, and API endpoints. With up to 30% of internet traffic consisting of malicious bot traffic, it has become essential for organizations with significant online presence to detect and block such traffic to mitigate cybersecurity and fraud issues.

DataDome’s machine learning algorithms and real-time detection capabilities have earned the company recognition as a best-in-class solution by analysts such as Gartner and Forrester. DataDome’s offering consistently ranks as a category leader on G2. The funding will finance the company’s global commercial roll-out and R&D efforts to stay ahead of both competitors and bot developers.

Benjamin Fabre, CEO of DataDome, commented:
“The ever-increasing sophistication and ease-of-use of malicious bots enable threat actors to mount complex attacks that cut across the entire customer journey. DataDome’s focus on assessing the intent of each request, in real-time, enables us to stop attacks in their tracks. In InfraVia, we have an investor who shares our vision to rid the web of bot-driven fraud and brings years of valuable experience helping companies scale globally.”

Guillaume Santamaria, Partner at InfraVia, said:
“DataDome perfectly embodies both our strong attachment to France as an extremely dynamic breeding ground for growth stage investment, and our longstanding commitment to cybersecurity as a sector. We are absolutely thrilled to partner with Benjamin and the team for their next phase of growth and will provide them with the full extent of our network, internal resources and expertise to do so.”

Romain Favrelle, Director at InfraVia, added:
“We were genuinely impressed by DataDome’s highly technical product and underlying stack and with the company’s prompt and efficient growth trajectory especially in the US. We fully endorse the team’s vision of bot management as a foundation to a much broader fraud management opportunity and are very much looking forward to the next phase and building a global leader alongside the management.”