Scalarr said to collect $7.5m in its Series A round

Anti-fraud software developer Scalarr has reportedly collected $7.5m in Series A funding.

European Bank of Reconstruction and Development served as the lead investor for the round, according to a report from TechCrunch. Other commitments came from TMT Investments, OTB Ventures and Speedinvest.

Funds from the round will be used to grow its presence in Asia, and further the development of its product.

The RegTech company leverages machine learning technology to protect app developers from app install ad fraud. Its algorithms enable the platform to automatically detect and recognise fraud patterns in huge amounts of data.

Scalarr claims to detect 60% more fraud than existing services  and claimed clients $22m in 2020, the article said.

Earlier in the week, fellow cybersecurity company CYE received a $100m investment from private equity firm EQT. The company provides an automated and continuous approach to assessments, with an optimised risk prioritisation and mitigation plans.

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