Netacea, a bot detection and mitigation startup, has raised $12 million (£9 million) in Series A funding to expand its anti-fraud technology platform.
Mercia Asset Management spearheaded the transaction, which included a diverse group of private investors with experience in the cybersecurity field.
The Manchester, United Kingdom-based firm, which was founded in 2018, focuses on the identification and mitigation of bot assaults targeting online, mobile, and API apps.
Netacea’s platform analyses web and API logs practically instantly, using threat intelligence and machine learning algorithms to deliver real-time bot mitigation capabilities.
Netacea intends to use the fresh funds to increase its market presence in the UK and the United States.
In addition, the company stated that it intends to hire fresh talent in development, data analysis, data science, and threat research to add to its workforce.