30 March 2023
InfraVia leads the USD 42m Series C of DataDome, a worldwide leader in bot & online fraud mitigation
DataDome announced its Series C funding round of USD 42m. The round is led by InfraVia Growth who is partnering with Elephant, Isai and other earlier investors to support DataDome on its mission to rid the web from bot1-driven cyberattacks.
- DataDome offers a leading online fraud & bot management platform that protects large customers’ digital properties against a wide range of malicious traffic including denial-of-service, scraping, credential stuffing, fake account creation, etc.
- DataDome’s solutions are vertical agnostic, and the company has built a significant market share with large e-retailers with the product also being used in insurance, banking, medias and other verticals;
- The company has built on its leading position in France to grow aggressively in the US and will leverage the round proceeds to continue developing there and in Europe.
- This is the 11th investment of InfraVia Growth I and the 4th in France.
Founded in 2015 by repeat entrepreneurs Benjamin Fabre and Fabien Grenier, and headquartered in Paris and New York City, DataDome has successfully built a category-leading product to detect and block in real-time malicious automated traffic on its customers’ websites, mobile apps and API endpoints.
Today, up to 30% of internet traffic consists of automated requests with malicious intent (so-called “bad bots”). “Bad bots” complexity has been rising steadily over the past years, making them harder to detect, and affected organizations face numerous issues as a consequence of related traffic, such as lost revenue, content and inventory theft, website and application performance degradation, account takeover, and payment fraud. Being able to detect and block such traffic is becoming all the more important for various sectors with significant online presence (ecommerce, media, banking and insurance, and telecommunications) and is a core issue to large corporations in the context of the mitigation of cybersecurity and fraud issues.
DataDome stands between its customers’ digital properties and internet, and is able to automatically detect and mitigate unwanted traffic in real time. DataDome performs those actions within milliseconds and without human interference, ensuring an unaltered navigation experience for genuine visitors. Such performance is made possible by the solution’s ability to adapt machine learning algorithms in real time, at the edge. The company’s offering has been flagged as best-in-class by numerous analysts, including Gartner and Forrester, and is consistently ranked as a category leader on G2.
Over the past years, DataDome has leveraged its industry-leading platform to build a strong commercial positioning in both its home market, France, and also in the US, where it already generates half of its revenues. Proceeds from the round will fund global commercial roll-out and R&D efforts to ensure that DataDome’s offering continues to be well ahead of both its 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.”
1 Short for robot and also called an internet bot – a bot is a script or software program that operates as an agent for a user or other program or to simulate a human activity. Bots are normally used to automate certain tasks, meaning they can run without specific instructions from humans.
Vincent Levita, Founder and CEO
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