PerimeterX, a provider of solutions that protect web apps at scale, announced this week that it has raised $57 million, led by AllianceBernstein, with a goal of funding the expansion of the development of its products and penetrating new markets. The funding round for PerimeterX came at the end of a record fiscal year that ended in January 2021, during which it drew 50 new customers including some of the leading brands in the e-commerce and financial services fields.
"Our investors deeply believe in our vision of protecting the modern web apps that fuel today’s digital businesses with a single platform that works across hybrid edge-based infrastructure," said Omri Iluz, CEO of PerimeterX.
"This latest round of growth financing is a testament to the uniqueness of our vision in the industry. It gives us the runway to extend our market reach beyond our core retail e-commerce vertical into new industries where we see strong uptake such as financial services. And it enables us to further develop geographies where we have a foothold including EMEA and APAC."
The latest round brings the total amount of capital raised by the company to $144 million. New investors in the company including Stereo Capital, JS Capital and Golden Arc Capital joined the round, with Scale Venture Partners, DTCP, Canaan Partners and Vertex Ventures US among the existing investors who participated as well.
“We see global market opportunities for PerimeterX solutions growing at a rapid pace and gaining strong traction across businesses experiencing an accelerated pace of digital transformation. The cloud-native PerimeterX Platform makes it very simple for customers to integrate PerimeterX products into their existing infrastructure to protect their digital business,” said Abhishek Sud, Managing Director, AllianceBernstein Growth Stage Capital. “We are confident that additional funding will help the company accelerate its innovation and maintain its leadership position.”