CHEQ announced today that it has raised a $150 million Series C round led by Tiger Global. The round was joined by existing investors Battery Ventures, Hanaco and Phoenix Insurance, as well as Key1 Capital, a new investor to the company.
Internet takeover
Go-to-Market efforts are constantly being hurt by invalid traffic (IVT) as it disturbs on-site conversion efforts and alters data and analytics. Essentially, what happens is that data, analytics, pipelines, audiences, and funnels can be contaminated by IVT, which leads to skewed BI systems. This results in poor decision making, distorted site metrics that disrupt conversion efforts, fake visitors flood CRM and bots that consume campaign budgets and pollute audience segments. There is a slew of potential IVT adversaries that have led digital marketing and eCommerce businesses to see losses in revenue worldwide. Some examples of IVT are click farms, that hire low-paid workers to generate invalid clicks and engagement; proxies, which are users attempting to mask their identity or location; automation tools, that automate browsing, scraping and form-filling tools; botnets, which are malicious networks of bots built for sophisticated cyber-attacks; web crawlers, that are bots designed to crawl websites, cataloging and indexing content; and fraudsters, who are bad actors committing chargeback fraud, credit card fraud.
IVT has only gotten worse; 40% of all web traffic is made up of bots and invalid users. Organizations need to protect themselves from IVT to get optimal visibility, cleaner data, better quality traffic, more accurate targeting, and smarter optimization. They can do so with CHEQ. CHEQ enables Go-to-Market leaders to stay in control, by securing their operations, sites, eCommerce, marketing funnels, sales pipelines, and data and analytics from fake visitors and users, bots, fraudsters, and other malicious actors. Regardless of the industry or size of a company, CHEQ is helping businesses achieve massive growth and scale while maintaining efficiency metrics.
CHEQ is trusted by over 12,000 customers across 50,000 websites worldwide. With the new capital, CHEQ plans to expand its research and development, sales, and marketing teams, while aiming to nearly triple its growth in 2022 across its key geographies in North America, EMEA and APAC.
“CHEQ has proven to be a clear category leader, solving an acute problem in the Go-to-Market security space. Its widespread adoption is a clear testament to the company’s unique market position. We are very impressed by the management team’s success to date and are looking forward to supporting them moving forward.” – Danny Akerman, Founding Partner of Key 1 Capital
CHEQ was founded in 2016 by Guy Tytunovich (CEO), Ehud Levy (Chairman) and Asaf Botovsky (CTO). Known customers include WalkMe, Dentsu, Outbrain, Purple, Paycor, and ClickUp. To date, CHEQ has raised $183 million.
