Pioneering tech company, Veracity Trust Network, has advanced its industry leading bot detection technology after securing funding for a seven-figure development project from Innovate UK, the UK's national innovation agency.
Having recently unveiled the launch of its new Website Threat Protection Platform - which successfully utilises machine learning to detect bots and safeguard online revenue, competitive edge, and brand reputation - the Veracity team are now in the process of accelerating the platform's tech roadmap over a dedicated 9-month period.
Having already more than doubled headcount from eight to 18 over the last 12 months, the Veracity development team are now working hard to advance the technology behind the platform, as bots continue to evolve and become even more sophisticated
This follows an impressive pilot where 18 businesses from across different industry sectors trialled the Veracity Website Threat Protection Platform, which revealed - on average - 38% of web traffic was suspicious, with the majority clearly bots.
Discussing plans for continued tech development and growth, Stewart Boutcher, CTO of Veracity Trust Network, said: "Since developing the prototype and officially launching the new Veracity Website Threat Protection Platform, we have been extremely encouraged by its capability and believe it can truly transform online security for businesses worldwide.
Securing this substantial Innovate UK funding further reinforces the potential of the platform and we are incredibly excited about what these next 9-months will bring."
Co-founded by forward-thinking tech entrepreneurs, Nigel Bridges, Stewart Boutcher and Mike Townend, Veracity Website Threat Protection is applicable to any business operating a website and blocks a wide range of bot attacks preventing potential huge financial loss and reputational damage, preserving website performance, and optimising infrastructure costs and security resources.
Headquartered in Leeds, the tech firm is forecast to more than triple its annual revenue by the close of 2023.
For more information, visit: Veracity Trust Network
