Go-to-Market Security (GTMSec) category leader 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. This brings CHEQ’s total funding to-date to $183M. The new funding will drive growth and expansion of the research and development, sales, and marketing teams.
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The Tel-Aviv based company brings security applications to Go-to-Market teams, to help protect their sales pipelines, marketing funnels, sites, eCommerce, data and analytics from fake visitors, fraudsters, and malicious bot traffic.
CHEQ is used by over 50,000 websites worldwide. The company aims to nearly triple its growth in 2022 across its key geographies in North America, EMEA and APAC.
Guy Tytunovich, Founder and CEO of CHEQ said: “We’re putting cybersecurity in the hands of Go-to-Market leaders, to secure their operations, marketing, sales, data and analytics from fake users, bots, and other malicious actors, who makeup over 40% of the Internet’s traffic. We’re providing GTM organizations the highest level of protection a CISO could require, without hurting the needs of the CMO, CRO and other GTM leaders.”
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On the latest funding he added: “In today’s economic climate, this round is a vote of confidence from a fantastic group of investors, not only in CHEQ as a company, but in ‘Go-to-Market Security’ as a category.”
John Curtius, Partner at Tiger Global added: “We’re excited to invest in a category leader like CHEQ, whose products are mission critical to all businesses, regardless of industry or size, and who has achieved massive growth and scale while maintaining stellar efficiency metrics.”
“Cheq has proven to be a clear category leader, solving an acute problem in the GTM security space,” said Danny Akerman, Founding Partner of Key 1 Capital. “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.”
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