Venture funding may be tight, but it's still happening. Distil bucks the trend and scoops up a Series C.
We've been hearing all year about the calamitous state of venture funding. The decline in technology stocks, the revaluation of the "unicorns" and the general sense of unease about the economy (Trump, anyone?) has led to a tightening of the pure strings in venture capital land.
But while the purse-strings have certainly tightened, the fact remains that venture capital companies still have cash they need to invest. The funds who give money to the VCs to invest for them certainly don't want to hear that those funds are simply sitting in a bank account awaiting deployment.
And so deals are still happening—arguably a little more modestly, but happening nonetheless. A case in point is Distil Networks, which today is announcing Series C funding.
Distil is in the business of protecting organizations and individuals from bad bots. While Bots may be all the rage today, with every vendor under the sun introducing bot platforms to allow people to build cool automatic features, the rise of the bots has led to a corresponding crescendo in concerns about those who use bots for nefarious purposes—the competitors, hackers and fraudsters who use bots as the entry point to effect web scraping, account takeovers, competitive data mining, online fraud and downtime.