Bad bot detection company Distil Netowks aims to expand its services on the back of closing $21 million in Series C financing.
Led by Silicon Valley Bank, with participation from Bessemer Venture Partners, Foundry Group and TechStars the new round brings Distil’s total funding to $65 million to date.
The California-based company, also a valued Property Portal Watch Madrid conference sponsor, plans to use the investment to bolster its global marketing and sales efforts, strengthen core offerings and double the current workforce over the next 12-18 months.
“As bots learn to better mimic human behavior and become harder to detect, solutions must innovate rapidly to thwart attacks,” says Distil Networks CEO and co-founder Rami Essaid.
"Our investors understand the enormous challenge that web properties face when it comes to defending proprietary information while maintaining a positive user experience.
"They have chosen to support Distil in its pursuit to create a safer web.
"With this round of funding, we are looking forward to building upon our momentum and continuing to lead the market with our advanced protection against bot activity.”
Bessemer Venture Partners partner David Cowan adds his vote of support, saying since he joined the Distil board he has been continually impressed by the company’s ability to develop new products, streamline deployment, and exceed sales objectives.
“Naturally, I was eager to double down,” Cowan says.
Since closing Series B financing in June of 2015, Distil has hit several key milestones, including:
Distil Networks' recent 2016 Bad Bot Landscape Report confirms bots are gaining sophistication, finding that 88 per cent of all bad bot traffic has one or more characteristics of an Advanced Persistent Bot (APB).
Their persistence comes from their process for evading detection. For example, an APB might use 1000 IP addresses to make one request each, instead of one IP address to make 1000 requests, rendering impotent IP-centric defenses.
According to Gartner, “fraudsters are also spreading their attacks over thousands of IP addresses — many of which are purposefully chosen to originate in locations that appear legitimate (for example, in the same geographic area that a target victim lives in).
"They are also slowing down their scripted attacks to move at the pace of an average human."