Israel based Cybersecurity firm CHEQ, which fights ad fraud has announced securing $16 million in Series B round. Battery Ventures and MizMaa Ventures led the latest financing for the firm. Prior to this round, Battery Ventures had infused $5 million in June last year as part of Series A funding. The current infusion takes the total amount raised by the firm to $21 million.
Founded in 2016 by Ehud Levy and Guy Tytunovich, the firm says that it uses an approach called “first generation solutions for ad verification”. It says that instead of waiting to get the ad up and running, the platform opts for a proactive approach where it can block the ads if there is an issue.
The firm says that it will use the latest funding to continue advancing its brand-safety, viewability and ad-fraud prevention capabilities. CHEQ says that it wants to provide the most holistic ad-verification solution in the market.
Commenting on the financing Guy Tytynovich, the CEO of the firm says "We are humbled by the incredible support and backing we've received from Battery Ventures, who have shared our vision since the very beginning. We are equally delighted to welcome aboard MizMaa Ventures, who in a short period of time have added amazing value and have established themselves as an integral part of the company's make-up.”
Battery Ventures general partner Itzik Parnafes through a statement said that "We are excited to partner with CHEQ and its top-notch team as the company moves into a new phase of growth, and continues its focus on bringing transparency to the world of digital advertising. Now more than ever, brand safety and ad-fraud prevention should be paramount concerns to large brands."
MizMaa Ventures partner Aaron Applbaum commenting about the capital infusion said, "MizMaa is excited, and genuinely proud to have invested in CHEQ. It is rare to see a confluence of such a rockstar team using deep technology to tackle an enormous market while establishing sustainable unit economics. We believe CHEQ will help keep the free internet viable and running with its real-time safety and anti-fraud products."
Image Courtesy : MarTechSeries