May 28, 2014
DC-based Distil Networks today announced that is has raised $10 million in Series A funding for its cloud-based platform helping companies detect and prevent malicious bots. The round was led by the Foundry Group and Techstars’s Bullet Time Ventures.
As part of this financing, Ryan McIntyre of Foundry Group and Techstars cofounder David Cohen of Bullet Time Ventures will join Distil’s Board of Directors. Other participants in the round include ff Venture Capital, IDEA Fund Partners, and Militello Capital.
“Distil Networks continues to show its commitment to eliminating malicious bots not just through its current solution, but through its continued research into the problem,” said David Cohen in a statement. “The 2014 Bad Bot Landscape Report is proof of Distil’s ongoing efforts to understand the evolving nature of automated attacks and how to best combat it.”
Based in Arlington, VA, Distil’s anti-bot security solutions help companies detect and block malicious bots, malware, and even competitors that may be attempting to scrape or copy your web data. Since its founding in 2011, the company has blocked more than 9 billion bad bots. Recently, the company released a 2014 Bad Bot Landscape Report, a study that presents the info on the origin of bad bots, which industries are affected, and the nascence of malicious mobile bots. Distil produced the report after tracking and observing around 2.2 billion bad bots.
The funding will support Distil’s expansions to Raleigh, NC and San Francisco, CA. Currently at 25 employees, the company aims to double its staff within the following seven months. “This round of funding will allow us to not only be proactive in combating new threats, but will allow us to grow the company and further expand upon our technology to make the web a safer place,” said CEO and cofounder Rami Essaid.
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