Boise-based startup Appdetex said it landed a new funding round, led by a Chicago-based private equity firm.
Baird Capital and three other investors pumped $12.2 million into the fraud protection company, based on Boise’s 8th Street. The other investors – First Analysis, Origin Ventures, and Epic Ventures were all pre-existing investors in the company and threw more cash into the pot.
This is AppDetex’s “C Round” funding. That round often gives established startups capital to grow the business after proving the concept and getting off the ground.
The company did not say how much the investment currently values the company.
A news release said Appdetex would use the money to build out its technology, ad sales, and service teams and help service existing clients.
Appdetex provides technology and services to assist brands in tracking down brand and copyright infringement.
Faisal Shah founded Appdetex in 2012. He previously co-founded MarkMonitor, a similar business originally based in Boise, but now headquartered in San Francisco and owned by Clarivate Analytics.