Market leaders join forces to expand the Human Defence Platform to protect advertising, marketing, ecommerce and enterprise security
SINGAPORE, July 27, 2022 /PRNewswire/ -- HUMAN Security, Inc. (formerly White Ops) — the global leader in safeguarding enterprises from sophisticated bot attacks and fraud, and PerimeterX, the leading provider of solutions that detect and stop the abuse of identity and account information to deter fraud on the web, today announced that the two companies are uniting in a market-changing merger. With 77% of online security and fraud incidents being bot-based, the merger highlights the importance of identifying sophisticated bot attacks, fraud and account abuse before they impact enterprises across advertising, marketing, e-commerce and cybersecurity. The combined companies will comprise more than 450 employees under the HUMAN company name, 500+ customers and have more than $100 million in ARR.
"The merger of these great companies brings together two exceptional teams of humans to accelerate the vision for our Human Defense Platform and to solve some of the most important security challenges for the internet," said HUMAN CEO and Co-Founder Tamer Hassan, who will remain as CEO of the go-forward company under the HUMAN brand. "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."
"The PerimeterX mission has been to protect the apps that power our daily lives with a portfolio of comprehensive application protection solutions that detect and stop the abuse of identity and account information on the web. With HUMAN's vision and successful approach to modern defense safeguarding enterprises and internet platforms from attacks, it's clear that we should be allies," said Omri Iluz, PerimeterX co-founder and CEO who will now be president and GM of Enterprise Security of the go-forward company. "I look forward to joining HUMAN's Board of Directors with our CTO, Ido Safruti. With the combined companies' mission-focused teams, industry-leading products and complementary technology, we're going to be an unstoppable force against cybercriminals."
Top customer use cases the combined companies safeguard against with the Human Defense Platform include:
Media Security: Digital advertising fraud, CTV fraud and misrepresentation, mobile app and SSAI malware, abuse and spoofing, paid marketing manipulation, lead generation fraud, loyalty program abuse, coupon and promotion fraud
Enterprise Security: Account takeover, fake account creation, carding, client-side supply chain attacks, digital skimming, PII harvesting, web scraping, scalping and denial of inventory
Each year, cybercriminals become increasingly sophisticated, making bot attacks and fraud the leading cyber threat challenges of this decade. In April 2022, Forrester Research released The Forrester Wave™: Bot Management Q2 2022 report where author, Principal Analyst Sandy Carielli, noted, "Bad bots continue to consume resources and overwhelm organizations, accounting for at least a quarter of all internet traffic."
In the evaluation that included both organizations, Carielli wrote in the report, "HUMAN is a strong choice for customers wanting white glove service and deep expertise in both marketing and security bot attacks." In its separate profile she noted, "PerimeterX is a strong choice for customers in e-commerce, travel and hospitality, and financial services."
HUMAN's Modern Defense advantage includes:
The merger has been approved by both companies' board of directors and has received regulatory approval. As part of the market-changing move, HUMAN has received a $100 million debt facility from Blackstone Credit on the heels of a $100 million growth funding round led by WestCap and NightDragon earlier this year. Terms were not disclosed.
HUMAN is a remote-first company, sharing the same important values to best protect our customers. To learn more about the market-changing HUMAN-PerimeterX merger, see the joint blog from HUMAN CEO Tamer Hassan and PerimeterX CEO Omri Iluz, and visit with us at Black Hat 2022.
DBO Partners is serving as exclusive financial advisor to HUMAN. Sullivan & Cromwell LLP is serving as legal counsel to HUMAN. JMP Securities, a Citizens Company, is serving as exclusive financial advisor to PerimeterX. Fenwick & West LLP is serving as legal counsel to PerimeterX.
About HUMAN
HUMAN is a cybersecurity company that safeguards enterprises and internet platforms from sophisticated bot attacks and fraud to keep digital experiences human. Our modern defense strategy is enabled by internet visibility, network effect, and disruptions, enabling enterprises to increase ROI and trust while decreasing customer friction, data contamination, and cybersecurity exposure. Today we verify the humanity of more than 15 trillion interactions per week for some of the largest companies and internet platforms. Protect your digital business with HUMAN. To Know Who's Real, visit www.humansecurity.com.
About PerimeterX
PerimeterX is the leading provider of solutions that detect and stop the abuse of identity and account information on the web. Its cloud-native solutions detect risks to your web applications and proactively manage them, freeing you to focus on growth and innovation. The world's largest and most reputable websites and mobile applications count on PerimeterX to safeguard their consumers' digital experience while disrupting the lifecycle of web attacks. PerimeterX is headquartered in San Mateo, California, and at www.perimeterx.com.
