Distil CEO: New $21M Funder Will Help Grow Raleigh Headcount

August 2, 2016

Bot detection startup Distil Networks announced Tuesday it has closed on $21 million in new financing – a round partially driven by what’s happening at the company’s growing Raleigh campus.

“We’re adding a lot of people in Raleigh, so we needed to take in some additional capital,” says CEO Rami Essaid in an interview.

The new round brings Distil’s total funding haul to $65 million to date, and goes toward doubling the current workforce over the next 12 to 18 months. That includes opening a new office in Raleigh’s Charter Square building in mid-August, tripling Distil’s current Raleigh footprint.

“We knew the expansion we had in mind for the rest of this year and next year was going to need some extra capital,” he says.

And it’s not just in Raleigh. The company is at about 150 employees and will likely be at 300 by the end of next year, he says. But Raleigh is growing at a faster clip than other Distil locations. The company has about 20 employees in Raleigh right now, and will likely add 30 positions in the coming months.

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