CHEQ, a cybersecurity startup, has closed its Series B round on $16m, as It looks to expand its AI and natural language processing capabilities.
The company wishes to enhance its technology to improve brand-safety, viewability and ad-fraud prevention.
Venture capital firms Battery Ventures and MizMaa Ventures served as lead investors to the new round.
Israel-founded CHEQ uses AI to protect advertisers from online risks of ads. The platform was built by former military intelligence and cybersecurity personnel and offers the first neural networks (a set of algorithms modelled after the brain) styled solution for brand safety and anti-fraud.
CHEQ founder and CEO Guy Tytynovich said, “Now we move forward, continuing to grow rapidly, expanding ad-verification into new areas and sustaining a healthy focus on strong unit-economics and profitability. Advertisers need to feel safe across all their online channels and CHEQ is now well positioned to support that need, as we expand to CTV, console gaming and other exciting mediums.”
The anti-fraud startup collected $5m in its Series A round last year after it secured investments from Battery Ventures.
Earlier in the year, Battery Ventures participated in the $60m Series C round of Guardicore. The RegTech offers a data centre and cloud security company which protects a business’ core assets.
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