Phybbit, Ltd., a Tokyo, Japan-based provider of a fraud protection tool, raised 320m yen (USD $2.9m) in Series A funding.
Backers included Mitsubishi UFJ Capital (MUCAP), Nippon Venture Capital (NVCC), Accord Ventures, Darwin Ventures, as well as individual investment from Satoshi Nakajima, the founder of Swipe, Inc., and Xevo, Inc.
The company will use this funding to boost marketing as well as personnel recruitment efforts with the goal of expanding its customer base globally.
Founded in 2011 by Satoko Ohtsuki, Phybbit is the developer of SpiderAF, an AI-driven tool that can detect online advertising fraud such as fake impressions, clicks, and conversions to reduce advertising budget waste and boost ROI. SpiderAF supports all ad formats including banner ads, mobile ads, affiliate ads, and listing ads.
Current clients include Japanese ad networks, agencies, and advertisers, but also has future plans for broader applications and worldwide expansion.
In December 2018, the company created a multi-business “Shared Blacklist” (SBL), a consolidated database of ad fraud information shared among companies, and services in an effort to unify the entire advertising industry against fraudulent activities.
Phybbit currently consists of a team of 25 members.