Local Cybersecurity Firm Raises $21M in Series C Funding

August 2, 2016

Arlington cybersecurity firm Distil Networks Inc. has raised $21 million in Series C financing, bringing the company’s total funding to $65 million since it launched in 2011.

The round saw participation from existing investors, including Menlo Park, California-based Bessemer Venture Partners; Boulder, Colorado-based Foundry Group and TechStars, as well as Silicon Valley Bank.

The firm plans to use the money to strengthen its global marketing and sales efforts, expand its bot detection services and double its workforce in the next year and a half.

Distil Networks specializes in identifying and protecting from bots— software that hackers and competitors use for online fraud, data mining, account takeovers and other malicious acts. Only 41 percent of internet traffic comes from humans, Distil Networks reports.

The firm counts some big-name companies such as Reuters, Staples and Stubhub among its roughly 100 business clients.

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