Appdetex Secures $10 Million in Series B Funding to Fuel Growth
BOISE, ID (BUSINESS WIRE) – March 20, 2019 – Appdetex, the global digital risk protection leader in combating misuse of intellectual property, brand infringement, fraud, and piracy, today announced it has raised $10 million in Series B equity financing to expand national sales and marketing efforts and invest in product development. The round is led by First Analysis, a leading venture capital firm investing in established rapid-growth companies, with existing investors including EPIC Ventures and Origin Ventures also participating in the round. The Series B funding rounds out $17.5M in total funding to date.
“Digital brand infringement is at an all-time high, and current market solutions are insufficient in fighting bad actors across a brand’s entire digital footprint. The market is poised for the differentiated digital risk protection product that Appdetex offers,” said Howard Smith, Managing Director, First Analysis, and new Appdetex Board Member. “We’re thrilled to partner with a management team known for its history of innovation in this industry and look forward to their continued leadership and growth.”
The Boise-based company was founded in 2012 by digital risk protection pioneers Faisal Shah and Chris Bura. Appdetex provides technology solutions and services to global corporations experiencing reputation and revenue loss from brand infringements outside the firewall via mobile or online activity. This expanding scope of a brand’s online presence across multiple platforms increases the complexity and urgency around protecting against counterfeiting, piracy, phishing, cybersquatting, and unauthorized use of trademarks. Appdetex supplies a unique solution that combines domain monitoring and protection with digital risk protection across multiple channels.
“Our goal is to be the all-in-one solution protecting all brands, anywhere that they live online – both through constant monitoring and discovery, and swift and effective enforcement,” said Faisal Shah, CEO of Appdetex. “This new investment enables Appdetex to continue to develop its team and industry-leading products necessary to defend brands across the globe against dilution of their intellectual property through nefarious means.”
Appdetex is in the business of solving business problems related to digital risks. With deep roots in intellectual property law, and applying technical innovation to securing brands, Appdetex is dedicated to brand protection professionals’ success and is trusted by some of the world’s largest brands, including consumer goods, gaming platforms, media, entertainment, and financial services companies. Disrupting highly-organized, automated, and widespread systems of abuse requires technology and expertise. Appdetex has extensive experience in crafting efficient enforcement strategies at scale, from traditional takedown notices to deactivating bad actors’ networks at their source. As a result, Appdetex provides comprehensive brand protection that mitigates a broad spectrum of abuse – swiftly.
About First Analysis
First Analysis is a leading venture capital investor, having invested more than $780 million over four decades. With our integrative research process, we aim to invest in the best, established rapid-growth companies in the targeted sectors where we are acknowledged experts and where our success benefits not only our investors, but also our broader society and environment. The integrative research process combines 1) dynamic investment research on thousands of publicly traded and privately held companies with 2) thousands of relationships among executives, investors, and other key participants in our focus areas, yielding a deep, comprehensive understanding of each sector’s near-term and long-term potential. We help companies become profitable leaders in large markets, funding growth plans, working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development, and typically investing $3-10 million as lead investor or as a syndicate partner who brings valuable perspective.
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