DataDome, a prominent player in the AI-powered online fraud and bot management space, has announced unprecedented growth and development in the year following its successful $42M Series C funding round. The company's relentless commitment to innovation and customer protection has resulted in significant enhancements and expansions to its platform, enabling enterprises to proactively combat fraudulent traffic and achieve immediate return on investment.
Benjamin Fabre, co-founder and CEO of DataDome, emphasized the challenges faced by enterprises in the ongoing battle against fraudsters, stating, "Enterprises today are engaged in an endless 'cat and mouse' game with fraudsters. Too often, they're getting outgunned with sophisticated and evasive attacks, now fueled by AI, as antiquated fraud products are no match for today's cutting-edge threats. With DataDome, the era of reactive, labor-intensive verification processes is over; we are using AI to fight AI."
DataDome's platform leverages machine learning at the edge to inspect the entirety of traffic, effectively preventing business logic abuse. The seamless integration and full transparency provided by DataDome allow enterprises to avoid the pain points associated with piecing together individual products, such as increased costs, incremental risk of vulnerabilities, and inefficiency. Moreover, the platform supports and provides explainability for a wide range of business use cases, facilitating the convergence of information security and fraud prevention teams and techniques, known as cyber-fraud fusion.
Over the past 12 months, DataDome's robust platform has successfully detected and blocked approximately 350 billion malicious attacks. Customers have benefited from a 99% reduction in account takeover fraud, with DataDome stopping 8.6 billion account takeover attempts and nearly 400 million fake account creations.
The company's commitment to utilizing the Series C funding for research and development has yielded three cutting-edge solutions: Device Check, the most effective and truly invisible CAPTCHA alternative; Ad Protect, a groundbreaking tool against ad fraud from inception; and Account Protect, which stops fraud before it happens. Additionally, DataDome became the first bot management vendor to offer a ChatGPT application on the ChatGPT Marketplace, called DataDome Companion, designed to optimize and simplify bot management processes.
DataDome has also expanded its global infrastructure to 26 points of presence, improving solution availability and ensuring a seamless user experience. The company's signals collection has grown from 3 trillion to an impressive 5 trillion per day, strengthening its defenses against an ever-expanding array of threats.
Embracing collaboration, DataDome announced the expansion of its channel partner program to support the evolving needs of today's enterprises in the fight against online fraud and automated threats. The company also became the first bot mitigation provider to attain AWS Security Software Competency and AWS Retail Software Competency, demonstrating its technical expertise and success in helping AWS customers reach their security goals and secure the future of retail.
DataDome's market-leading detection and mitigation capabilities have garnered widespread recognition over the past year. The company was the only bot detection and mitigation provider to rank on G2's prestigious Best Security Products of 2024 list and received numerous other accolades, including the 2024 Cybersecurity Excellence Award for Fraud Prevention, Best Use of Machine Learning/AI in the 2023 SC Europe Awards, and ranking on Viva Technology's 2024 "Top 100 Next Unicorns" list.
