Israeli cybersecurity company CHEQ announced today that it has completed a $150 million series C financing round led by Tiger Global, with the participation of existing investors Battery Ventures, Hanaco and Phoenix Insurance, and new investor Key1 Capital. This brings to $183 million, the total amount raised by CHEQ. No company valuation was disclosed.
The company said that the new funding will be used to expand its R&D, and sales and marketing teams.
The Tel Aviv based company has developed security applications for marketing staff to help protect sales pipelines, marketing funnels, sites, eCommerce, data and analytics from fake visitors, fraudsters, and malicious bot traffic. CHEQ says its platform is used by over 50,000 websites worldwide and the company aims to nearly triple its growth in 2022 in North America, EMEA and APAC.
CHEQ was founded in 2016 by CEO Guy Tytunovich, chairman Ehud Levy, and CTO Asaf Botovsky. The company has offices in Tel Aviv, New York and Tokyo and has 200 employees.
Tytunovich said, "We’re putting cybersecurity in the hands of go-to-market leaders, to secure their operations, marketing, sales, data and analytics from fake users, bots, and other malicious actors, who makeup over 40% of the Internet’s traffic. We’re providing GTM organizations the highest level of protection a CISO could require, without hurting the needs of the CMO, CRO and other GTM leaders."
Published by Globes, Israel business news - en.globes.co.il - on February 22, 2022.
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