Cybersecurity startup PPC Protect has raised £2million in seed investment in a round led by Fuel Ventures.
The Chorley-based company uses AI and machine learning to help businesses protect themselves against click fraud and is using the cash to expand internationally.
PPC Protect, founded in 2016, claims that fraud schemes and criminal gangs cost businesses nearly £25bn in lost revenue in 2020, with over a third of online display ads either fraudulent or invalid.
Neil Andrew, founder and CEO of PPC Protect said, “Despite the impact of Covid-19, digital ad spend still increased 2.4% in 2020 to a record $332bn as consumers turn to the web in their masses to stay informed, in touch and entertained.
“For fraudsters this is like shooting fish in a barrel. With little effort they can defraud small, independent businesses relying on online ad spend to increase their presences out of tens of thousands pounds a year.
“We are handling huge volumes of ad traffic to make sure these businesses are protected and with this new investment we can explore how our solution stays one step ahead of more sophisticated ad fraud tactics and expand internationally.”
Mark Pearson, founder and managing partner of Fuel Ventures, said that PPC Protect was the “first truly automated cybersecurity-driven fraud detection engine that stops bad traffic and fake clicks”.