ShieldSquare, a Bangalore-based startup which operates in the bot mitigation and management space, has raised an undisclosed amount in its Series A funding round.
While the company has revealed the amount of funding raised, it is known that the round was led by Endiya Partners and RPG Ventures.
Apart from them, Anthill Ventures and existing investors StartupXseed, Venture Highway, and a few other angel investors have also participated in this round.
It now plans to use the funding to strengthen its bot mitigation technology platform. A portion of the funding will also be spent for expanding its market presence across the US and Europe.
Commenting on the fundraise, Endiya Partners Director Abhishek Srivastava said,
The application security market continues to evolve, responding to proliferating advanced automated attacks (via web/mobile/API abuse) and its growing business and political ramifications. ShieldSquare’s differentiated and non-intrusive bot mitigation technology, backed by advanced Machine Learning models, puts it in a driving position to address this global problem at scale.
The startup was founded in 2014 by Srikanth Konijeti, Jyoti Kakatkar, Vasanth Kumar Gopalakrishnan, and Rakesh and Pavan Thatha. ShieldSquare helps online businesses differentiate between human and non-human traffic (bots) on their websites and mobile applications.
It leverages technology to detect, categorise, and take the right action against malicious bots and to ensure zero false positives. As per the company, it processes billions of events every day and protects over 60,000 internet properties spread across 70 countries against the threats of web scraping, account takeover, form spam, carding, scalping, ad fraud, and other forms of bot abuse.
The company’s list of clients includes Fortune 500 companies, eCommerce businesses and Alexa top 500 sites. Its real-time bot mitigation software currently processes billions of events and online activities every day. The company claims that it has been cash positive since April 2016.