Cybersecurity startup PPC Protect has made £ 2 million in seed investments in a round led by Fuel Ventures.
The Chorley-based company uses AI and machine learning to protect businesses from click fraud and uses the money to expand internationally.
Founded in 2016, PPC Protect claims that fraud programs and criminal gangs cost businesses nearly £ 25 billion 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 advertising spending still rose 2.4% in 2020 to a record $ 332 billion as consumers moved in Their masses turn to the internet to keep up to date.
“To scammers, it’s like shooting fish in a barrel. With little effort, they can scam small, independent businesses that rely on online advertising spend to grow their presence by tens of thousands of pounds a year.
“We process large volumes of ad traffic to ensure these companies are protected. With this new investment, we can explore how our solution can move ahead of more sophisticated ad fraud tactics and expand internationally.”
Mark Pearson, founder and managing partner of Fuel Ventures, said PPC Protect is “the first truly automated, cybersecurity-based fraud detection engine that stops bad traffic and wrong clicks”.