Distil Networks, a company that helps discover and eradicate bad bots, announced a $21 million Series C round today.
Funders include new investor Silicon Valley Bank along with previous participants Bessemer Venture Partners, Foundry Group and TechStars. It comes on the heels of another $21 million round in June, 2015 and brings the total raised to $65 million across all rounds.
With the funding environment growing ever uncertain, especially as we approach the November US presidential election, Distil CEO Rami Essaid admitted that his company didn’t necessarily need the money, but wanted to grab it while the getting was good.
Essaid was particularly pleased about having a strategic partner like Silicon Valley Bank in this deal as his company targets banks as a key customer demographic. He’s hoping the relationship will give them entree into other financial institutions, which tend to gravitate toward security products that have been vetted by other banks.