Netacea, a Manchester-based company specializing in digital security solutions, announced a £4 million investment from Mercia Asset Management. The company’s AI platform leverages AI to protect users against bot-driven cases of online fraud.
Netacea’s agentless integration technology provides enterprise companies with autonomous anti-bot security across their websites, apps and APIs. Alongside detecting and preventing live attacks, the company’s solution also provides advanced warning of future threats. Netacea is also further developing solutions to address every stage of the attack process.
“The cost of online fraud is rising at an alarming rate and with the growth of e-commerce and adoption of offensive AI, is estimated to reach $7.95 trillion by 2027. Solving this problem is not only about stopping attacks, but also understanding the intent, planning and execution,” Mick Bradley, Netacea’s CEO, said in a statement. “Netacea’s industry-leading threat intelligence, along with our AI-driven intent-based analytics tools, enables us to identify and stop significantly more bot attacks than traditional methods.”
The 60-person company recently increased its revenue by 29 percent in the financial year to March 2024. Equipped with its latest funding round, Netacea plans to advance its AI roadmap, expand its product range and continue its growth.
