AppDetex Secures $10 Million in Series B Funding to Fuel Growth
First Analysis Leads Investment for Global Digital Risk Protection Leader
AppDetex, the global digital risk protection leader in combating misuse of intellectual property, brand infringement, fraud, and piracy, 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.
“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.”
“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.”