SAN MATEO, Calif., March 03, 2022 (GLOBE NEWSWIRE) — PerimeterX, the leading provider of solutions that detect and stop the abuse of identity and account information on the web, today announced the close of a pivotal fiscal year ending January 31, 2022.
“We’re thrilled to be closing another chapter in our company’s seven-year lifespan, with our team and our product offerings positioned stronger than ever as we enter a new fiscal year,” said Omri Iluz, co-founder and CEO, PerimeterX. “As we take time to appreciate how far we’ve come in the past 12 months, we’re emboldened in our mission to protect the integrity of users’ identities and account information everywhere along their digital journey. Our sustained growth is proof that businesses see the value in our exceptional accuracy, platform-agnostic architecture and customer-centric approach.”
Customer growth: PerimeterX grew its customer base by 40 enterprise customers, including some of the top brands in retail e-commerce, financial services and hospitality:
- A leading specialty retailer that uses PerimeterX Bot Defender to preserve customer experience and ensure people, not bots get products during hype sales
- A global leader in outerwear that uses Bot Defender to combat credential stuffing attacks, scraping and API abuse, and PerimeterX Code Defender to protect against digital skimming and Magecart attacks
- An industry-leading e-commerce platform provider in health and wellness that uses Bot Defender to protect against account takeover and carding attacks
- A leading online ticket marketplace that uses Bot Defender to protect against scraping and account takeover attacks
- A leading business insurance provider that uses Bot Defender to stop scraping and skewed analytics
Safeguarding customer revenue: PerimeterX regularly identified and blocked malicious attacks — including nearly 2 billion account takeover attacks in a typical 60-hour period — over 45 times the rate of competitors. During Cyber 5, the period between Thanksgiving and Cyber Monday, PerimeterX solutions prevented over $1.5B in losses from account and purchase fraud and stopped $37 million worth of fraudulent gift card purchases.
Product expansion: PerimeterX expanded its portfolio of solutions with the releases of PerimeterX Hype Sales Protection, PerimeterX Credential Intelligence and PerimeterX Human Challenge. Hype Sales Protection is a specialized offering that takes the sophisticated bot management of Bot Defender and pairs it with highly specialized rules to improve how customers experience limited-time sales. Credential Intelligence leverages data from active credential stuffing attacks in the wild to disrupt malicious activity head-on and make it difficult and expensive for attackers to profit on a site PerimeterX protects. Human Challenge is the first user-friendly verification that protects web and mobile applications by presenting a visual challenge to help easily differentiate humans from bots. Users solve Human Challenge verifications 5x faster than Google reCAPTCHA.
PerimeterX additionally made new product capabilities available in its recent Winter Release, including Hype Sale Challenge, scenario-optimized Proof of Work (PoW), new Edge Enforcers, GraphQL API Security, and quick and codeless integration capabilities in its web and mobile SDKs. These new capabilities help make life harder for attackers, but easier and better for PerimeterX customers and their consumers.
Industry recognition: PerimeterX added to its growing list of industry accolades, including being named one of the Most Innovative Companies of 2021 and ranked #7 among the world’s leading security companies by Fast Company. PerimeterX Code Defender was awarded the SIIA CODiE Award for Best Security Solution, as well as the CNP Award for Best Antifraud Solution.
Employee growth: PerimeterX announced the appointments of AJ Stahl, chief revenue officer (CRO); Raymond Lim, chief financial officer (CFO); Doug Jones, SVP of corporate development and strategic alliances; and Mark Whitehead, SVP of service delivery to deepen its executive bench and position the company strongly as the team enters 2022. In addition, Martin Braun joined the company’s Board as an independent director. The company celebrates a 42% female leadership rate in its R&D team, and over one quarter of PerimeterX management is female.
Research discoveries: The PerimeterX research team published the first annual Automated Fraud Benchmark Report and made key discoveries such as a Magecart attack served from recaptcha[.]tech and its progression over two years. The team additionally analyzed an attack leveraging malware that bypassed MFA via cookies, attacker trends around Amazon Prime Day, and attack patterns and prevention over Cyber 5 — the period between Thanksgiving and Cyber Monday. PerimeterX researchers also published an expert Q&A on how to use honeypots to lure and trap bots, a deep dive into sneaker bots and how they affect the PlayStation 5 world, and a piece on the evolution of CAPTCHA solvers.
PerimeterX is the leading provider of solutions that detect and stop the abuse of identity and account information on the web. Its cloud-native solutions detect risks to your web applications and proactively manage them, freeing you to focus on growth and innovation. The world’s largest and most reputable websites and mobile applications count on PerimeterX to safeguard their consumers’ digital experience while disrupting the lifecycle of web attacks. PerimeterX is headquartered in San Mateo, California, and at www.perimeterx.com.