Fraud in digital advertising is becoming an increasing concern among the fast growing digital media world, and a startup has raised new capital to help fight it.
That company, Devcon, announced today that it raised $4.5 million in seed capital from Las Olas Venture Capital, New Fund, Techstars, Off The Grid Ventures, Engage Ventures, Barclays, Global Accelerator Network, Golden Seeds and the Jump Fund. This story was originally reported by TechCrunch.
Devcon offers real time monitoring and blocking of potential threats to media’s digital ads and the revenue they provide. Devcon’s biggest customers are a who’s who of digital media companies: Tribune, E.W. Scripps, Gannett, Yahoo and Disney Interactive. These companies have a vested interest in making sure their ads impressions are legit and that unauthorized functions by bad actors (like pop-ups and bots) are detected and stopped promptly.
That same company also announced that it has hired former FBI Cyber Squad supervisor Michael F. D. Ayana to help target ad fraud, which costs the digital ad industry $19 billion. His new role at Devcon will be Head of Global Cyber Investigations and Government Relations.
Maggie Louie, co-founder and CEO of Devcon, previously worked at the Athens Daily Herald and Los Angeles Times newspapers. Many of the other staff at Devcon also worked in the media industry. The company was founded in 2017 in Memphis before it located to its present headquarters in Atlanta, Ga.