human securityA bot mitigation and fraud detection platform for enterprises, is merging with circumferenceX, a company focused on keeping web apps safe from account takeover and automated fraud. Terms of the deal were not disclosed.
The combined entity will comprise about 500 employees, and it will eventually come under the name Human Security once the two related platforms are integrated – although when this will be is not yet clear.
“While I cannot provide an exact timeline, I can say that we have two excellent teams coming together, and we have already done an incredible job to get to this point,” said Tamer Hassan, Human Cofounder and CEO. told Meczyki.Net. “We are making every effort to make integration as fast and frictionless as possible so that our combined customers can truly get the best of both products.”
As part of the deal, Human said it has received a $100 million loan facility from Blackstone Credit, which follows $100 million to seven months Development round of funding. PerimeterX, meanwhile, $57 million funding round raised Last year.
The problem both companies are facing to solve is that the vast majority of online security and fraud incidents are driven by bots – and these bots have become more sophisticated over the years as they can track their behavior. become more difficult to install. Nefarious activities include scraping personally identifiable information (PII) or content such as so-called “click fraud” from websites and applications, essentially using pay-per-click (PPC) to increase revenue for a website. Contains bot tapping on ads.
human security (Previously known as White Ops) and PerimeterX solve the bot attack problem by using machine learning to understand authentic “human” behavior, which helps detect anomalous actions conducted by bots. However, they are not exactly the same product, with each focusing on different domains – PerimeterX is big on account security, for example – while they have different areas in their crosshairs.
“PerimeterX has protected most ecommerce companies, while Human has protected the edtech, performance marketing, and cybersecurity/application security teams,” Hassan said. “Our goal is to unify these silos and solve this important problem throughout the enterprise.”
Cybersecurity startups enjoyed a stellar year in 2021, raking in a record $29.5 billion in funding – more than double the figure from the previous year. The need for such technology is greater than ever as ransomware attacks and data breaches spread, while the remote-working boom continues to boom – but cybersecurity startups has not been impenetrable With the economic downturn, many layoffs announced across the industry These last few months,
While cybersecurity companies are generally well-positioned to thrive in the long term, seeing that attacks and breaches won’t go away anytime soon, as technical evaluation has eroded and a huge “reset” of all sizes is needed. As companies continue to impact, consolidation through mergers and acquisitions (M&A) is one strategy to address this.
In gaming, we recently saw Unity merge with Ironsource, while in the aerospace sector Eutelsat and OneWeb announced plans to merge as a single European satellite company yesterday. And in cybersecurity in particular, there have been countless M&A deals this year, involving big tech companies like IBM and Google, as well as small enterprise backed companies want to expand rapidly.
Founded in 2012 from New York, Human Security was really acquired by Goldman Sachs’ merchant banking division, ClearSky Security, and KnightDragon are back in 2020, so it’s probably just as exposed to an economic slowdown as other cybersecurity startups out there. But by merging with a rival in space, it can grow at a pace that would otherwise be difficult through more biological means.
“By combining companies, and increasing the amount of combined data across multiple verticals, we have a unique source for all combined products to improve our overall identities, as well as those offered to help protect our customers.” We have a strong foundation for new products,” Hassan said.