usdollars

Black Lotus Raises $6M in Financing to Accelerate International Expansion

Add Your Comments

Anti-DDoS security solutions provider Black Lotus announced on Monday that it has secured an initial debt facility of $6 million from East West Bank to help launch international locations, including Amsterdam within the next month.

The funding will be used to accelerate expansion initiatives domestically as well, including upgrades to its DDoS mitigation centers. Black Lotus says the financing will “scale the footprint, capacity, and resiliency of its DDoS mitigation capabilities.”

The financing for Black Lotus comes around six months after the DDoS protection provider closed a $3.5 million Series A round led by Industry Capital. At the time of the Series A funding, Black Lotus said it would use the financing to deploy additional capacity and improve the quality of its service.

“Since its acquisition by Industry Capital in 2013, Black Lotus has grown monthly revenue by over 100 percent and expanded from a single physical location to a nationwide footprint at 5 data centers, providing DDoS protection services for over 250 networks, servicing more than 1 million end users,” Warren Dewar, CFO of Black Lotus said.

DDoS is an issue that isn’t going away, and has become more complicated as hosting providers deal with attacks escalating in size and sophistication. Black Lotus has noted the increase in the average DDoS attack size, growing to 3.1 Gbps and 1.5 million packets per second.

Security is an ever-evolving space, and recent acquisitions and funding in security continue to change the landscape of providers that are available for web hosts to partner with. Late last year, Akamai acquired DDoS security provider Prolexic in a deal valued at around $370 million.

“The current threat environment demands that DDoS mitigation service providers be prepared for literally any contingency,” Arman Khalili, CEO at Black Lotus said. “Our latest fundraising will be invested to guarantee peace of mind for our clients who value fault tolerant, high performance security solutions to defend their businesses and downstream customers.”

About the Author

Nicole Henderson is the Editor in Chief of the WHIR, where she covers daily news and features online. She has a bachelor of journalism from Ryerson University in Toronto. You can find her on Twitter @NicoleHenderson.

Add Your Comments

  • (will not be published)