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Elephant led a $35 million Series B investment for DataDome. DataDome is a software-as-a-service solution driven by AI that protects markets against site scraping, account takeover, and payment fraud. The company’s bot detection system analyses over a trillion bits of data every day.
DataDome, a bot defense startup, has raised $35 million in a Series B round led by Elephant. Existing investor ISAI also participated in this round. The funds, which increase the total raised to roughly $40 million, will be used to develop R&D as the firm seeks to grow its client base.
DataDome, located in New York and co-founded by Benjamin Fabre and Fabien Grenier, offers an AI-powered software-as-a-service solution that protects markets against site scraping, account takeover, and payment fraud. Every day, the company’s bot detection engine analyses more than a trillion bits of data from 25 global points of presence.
A company spokesperson said, “DataDome is the third company co-founded by Benjamin Fabre and Fabien Grenier. Their latest success was TrendyBuzz, a social media monitoring company acquired by Linkfluence in 2014.
He added that Benjamin and Fabien quickly noticed that hackers were using similar approaches to construct rogue bots and target digital commerce firms at an alarming rate. To make matters worse, there was a scarcity of quickly deployable ways to counteract these attacks.
The bot avoidance software from DataDome analyses queries to a website, mobile app, or API with an in-memory pattern database, using a combination of AI to determine whether or not access to sites should be permitted. The company’s algorithms, which are tailored to specific attack vectors, evaluate billions of requests every day and are constantly updated to detect and block known and unknown threats.
DataDome identifies and categorizes assaults and displays them on a dashboard for monitoring, analysis, and cleanup. For more detailed requirements, it has custom rules feature that allows users to, for example, ban human traffic from regions where they do not sell. When a site is attacked, DataDome delivers real-time notifications through email or Slack. Furthermore, because the technology adds ID tags to queries to websites, applications, and APIs in real-time, DataDome clients may receive daily or weekly bot traffic email reports and check for false positives.
According to the spokesperson, DataDome gathers and analyses hundreds of billions of signals in real-time every day, including HTTP data, user mouse movements, and mobile app touch events, to generate massive datasets.
“Supervised, unsupervised, and semi-supervised models are used and stacked up to detect bots from the very first request. Datasets are analyzed per request, per session, per IP, at different time scales on one or multiple customers’ traffic.”Datadome Spokesperson