Three-Month-Old Startup Gets $1.25 Million to Fight Ad Bots
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As more tales come to light of companies trafficking fake visitors, or bots, to steal ad dollars intended to attract real customers, advertisers are taking more notice of online advertising’s underbelly. So are investors.
Three months after launching, Madison, WI-based MdotLabs has raised its first funding round to police fake traffic and insure advertisers’ online campaigns against being served to imaginary people. Great Oaks Venture Capital, which invested in Invite Media, and Chicago Ventures led the $1.25 million round.
MdotLabs co-founder and CEO Timur Yarnall said the 12-person company plans to use the money to grow its data science and software development teams and expand its sales and marketing to make more people aware of ad fraud. The company released a study in August that claimed 10 traffic networks led to enough fake impressions as to cost advertisers $180 million annually.
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