The combined companies, with 450 employees, are backed by a $100 million debt facility from Blackstone Credit, and such investors as WestCap and NightDragon. Financial terms of the deal were not disclosed.
This is technology M&A deal number 686 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
Joining Forces Against Bot-Based Security Threats
HUMAN and PerimeterX stated that “77% of online security and fraud incidents being bot-based.” Thus, the merger “highlights the importance of identifying sophisticated bot attacks, fraud and account abuse before they impact businesses.”
HUMAN CEO and co-founder Tamer Hassan described the impact of the merger with PerimeterX:
“The merger of these great companies brings together two exceptional teams of humans to accelerate the vision for our Human Defense Platform and to solve some of the most important security challenges for the internet. Together, we will deliver on our shared purpose of disrupting the economics of cybercrime, and we will offer enhanced protection for our combined global customers with an unparalleled modern defense strategy.”
Omri Iluz, PerimeterX co-founder and CEO, who will serve as HUMAN’s president and general manager of Enterprise Security, discussed the advantages of the new partnership:
“The PerimeterX mission has been to protect the apps that power our daily lives with a portfolio of comprehensive application protection solutions that detect and stop the abuse of identity and account information on the web. With HUMAN’s vision and successful approach to modern defense safeguarding enterprises and internet platforms from attacks, it’s clear that we should be allies.”
Iluz issued a warning to threat actors:
“We’re going to be an unstoppable force against cybercriminals.”
A Closer Look at the HUMAN Modern Defense Platform
The Human Modern Defense Platform safeguards against a variety of cyberthreats, specifically:
- Media Security — digital advertising fraud, CTV fraud and misrepresentation, mobile app and SSAI malware, abuse and spoofing, paid marketing manipulation, lead generation fraud, loyalty program abuse, coupon and promotion fraud.
- Enterprise Security — account takeover, fake account creation, carding, client-side supply chain attacks, digital skimming, PII harvesting, web scraping, scalping and denial of inventory.