Bot and fraud protection firms HUMAN Security (formerly White Ops) and PerimeterX, today announced that the two companies would merge under the HUMAN company name.
HUMAN Security sells technology capable of differentiating between bots and human transactions on the internet, protecting enterprises from fraudulent e-commerce activity. The company says its platform verifies the authenticity of more than 15 trillion interactions per week for some of the largest companies and internet platforms.
PerimeterX sells behavior-based threat protection technology to help e-commerce giants deal with the pesky problem of bots ruining the online shopping experience. Big-name companies like Nike, Walmart, Target and others routinely struggle to manage bots during shopping seasons and companies like PerimeterX have helped to fill that gap.
Combined, the firms will comprise more than 450 employees, 500+ customers and have more than $100 million in ARR.
Bad bots are a huge business, and according to Forrester Research Principal Analyst Sandy Carielli, they “continue to consume resources and overwhelm organizations, accounting for at least a quarter of all internet traffic.”
“HUMAN is a strong choice for customers wanting white glove service and deep expertise in both marketing and security bot attacks,” Carielli noted Forrester’s Bot Management Q2 2022 report. Carielli noted separately that PerimeterX “is a strong choice for customers in e-commerce, travel and hospitality, and financial services.”
{ Read: The Big Business of Bad Bots }
The merger has been approved by both companies’ board of directors and has received regulatory approval. As part of the transaction, HUMAN received a $100 million debt facility from Blackstone Credit after a $100 million growth funding round led by WestCap and Dave DeWalt’s NightDragon earlier this year.
Terms of the merger were not disclosed.
HUMAN was previously acquired by the Goldman Sachs merchant banking division in a deal that was announced in December 2020, when the company was operating as White Ops.
“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,” said HUMAN CEO and Co-Founder Tamer Hassan, who will remain as CEO of the combined company.
Related: Anti-Bot Fraud Detection Firm HUMAN Snags $100M Investment
Related: PerimeterX Banks $57 Million for Bot Protection Expansion