Extends market leadership with 86% revenue growth, new products and industry accolades
SAN MATEO, Calif., March 10, 2020 – PerimeterX, the leading provider of application security solutions that keep web businesses safe in the digital world, today announced record growth for the fiscal year ending January 31, 2020.
“This past year was pivotal for PerimeterX as we dramatically grew our business, extended our solution to address new attack trends, and helped more customers protect their revenue and reduce their risk,” said Omri Iluz, CEO and Co-founder of PerimeterX. “I’m incredibly proud of the entire PerimeterX team for putting their collective energy and deep expertise into driving our success. For a company that just celebrated its five-year anniversary, it’s exhilarating to find ourselves at the top of our game in protecting the world’s biggest digital businesses from automated attacks and client-side threats. The best part is, we’re just getting started.”
Customer growth: PerimeterX grew its customer base by 60% and signed some of the biggest brands in the world, including:
- A top 10 US airline that uses PerimeterX Bot Defender to block account takeover attacks
- A top 5 global retailer that uses Bot Defender to block sophisticated bots, PerimeterX Code Defender to block malicious scripts and PerimeterX Page Defender to block unwanted coupon extensions
- A major e-commerce business that uses Page Defender to block client-side browser malware and injected ads
- A top online travel agency that uses Bot Defender to block competitive web scraping
Product expansion: In 2019, PerimeterX expanded its portfolio of solutions with the release of Code Defender and the launch of Page Defender based on its acquisition of PageSeal. Code Defender broadened the PerimeterX suite of solutions to protect against digital skimming and Magecart attacks, formjacking and personally identifiable information (PII) harvesting attacks that leverage vulnerable client-side code. Page Defender blocks unwanted extensions, ad injections and redirects so visitors can complete their intended path to purchase, resulting in more revenue for e-commerce sites.
Industry recognition: In “The Forrester New Wave™: Bot Management, Q1 2020” report by Forrester Research, PerimeterX was named a leader and given the highest ratings possible in attack detection, attack response, threat research, feedback loops, performance metrics, vision, roadmap and market approach. The report evaluated 13 vendors in the bot management market on criteria related to product offerings and business strategy. According to the report, PerimeterX “leads the pack with robust machine learning and attack response capabilities,” and “is the best fit for companies that interact with users across multiple channels.”
Increased funding: 2019 also saw PerimeterX receive $43 million in Series C funding from world-class investors Scale Venture Partners and Adams Street Partners, in addition to support from existing investors Canaan Partners, Vertex Ventures and Data Collective. Deutsche Telekom Capital Partners and Salesforce Ventures then added to the funding round with an additional $14 million, bringing the company’s total funding to $91.5 million.
Employee growth: PerimeterX expanded its workforce by 33% in the fiscal year as well, including key hires such as Chief Marketing Officer Kim DeCarlis and Chief Revenue Officer David Brown. The company also relocated its San Mateo headquarters to accommodate its growing workforce.
Research discoveries: The PerimeterX research team made key discoveries this past year including a code modification vulnerability in WhatsApp that put millions of users at risk, two new carding bots threatening e-commerce websites, and multiple Magecart groups attacking websites simultaneously.
PerimeterX is the leading provider of application security solutions that keep your business safe in the digital world. Delivered as a service, the company’s Bot Defender, Code Defender and Page Defender solutions detect risks to your web applications and proactively manage them, freeing you to focus on growth and innovation. The world’s largest and most reputable websites and mobile applications count on PerimeterX to safeguard their consumers’ digital experience. PerimeterX is headquartered in San Mateo, California and at www.perimeterx.com.
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