US-based cybersecurity software developer PerimeterX secured $57m of funding on Tuesday from investors including Deutsche Telekom Capital Partners (DTCP), a vehicle backed by telecommunications firm Deutsche Telekom.
Asset manager AllianceBernstein led the round, which was filled out by Stereo Capital, JS Capital, Golden Arc Capital, Adams Street Partners, Canaan Partners, Scale Venture Partners and Vertex Ventures US.
PerimeterX provides a software-as-a-service platform used by enterprise customers to protect online applications from cyber threats. The company’s product range enables users to detect and manage cyber risks such as account takeovers, credit card fraud or e-commerce scalping.
Omri Iluz, CEO of PerimeterX, said the company would use the proceeds of the round to expand the business beyond its core retail e-commerce vertical into sectors such as financial services.
The funds will also go towards expanding the business into new geographies and growing its presence in markets including Europe, Middle East and Africa and Asia-Pacific.
PerimeterX has now raised $144m of investment since it was founded in 2014.
DTCP joined Salesforce Ventures, a corporate venturing arm of enterprise software provider Salesforce, to invest an additional $14m in a series C round for PerimeterX in September 2019, increasing the round’s total to $57m.
PerimeterX initially raised $43m for its series C round in February of that year from Scale Venture Partners, Vertex Ventures, Adam Street Partners, Canaan Partners and Data Collective (DCVC).
The company also pulled in $23m in a Canaan Partners-led series B round backed by Vertex Ventures and DCVC in 2017.
PerimeterX identified DCVC and Vertex Ventures as existing backers at the announcement of its series B round but did not disclose the details of its prior funding.