ClearTrust, an ad tracking and fraud detection platform, has secured $1.9 million in a pre-Series A funding round, emphasizing its commitment to advancing AI and cybersecurity in the relentless fight against digital advertising fraud.
Ideaspring Capital led the round, supported by Piper Serica Angel Fund and existing investor Alacrity India. This boosts the company’s total funding to $2.1 million, following a $200,000 seed round in 2021 from Alacrity India, Limelight UK, and ThinkNext LLC.
The funds will fuel ClearTrust’s expansion into North America and bolster research and development in AI, cybersecurity, and deep tech. The aim is to create critical filters addressing the rising threat of advertising fraud, a menace plaguing the industry.
Deepankar Biswas, co-founder and CEO of ClearTrust, said, “With a keen focus on expanding into the US market, this funding propels us towards innovating and implementing solutions that ensure the integrity and efficiency of online advertising.”
Safeguarding Digital Campaigns
Founded in 2020 by tech visionaries Deepankar Biswas and Raja TN, ClearTrust stands at the forefront of assisting global advertising operations, media buying entities, and teams with its state-of-the-art tracking and fraud detection platform.
The company’s mission is to empower advertisers, agencies, and networks to attain higher ROI by eliminating fraudulent activities from digital campaigns.
ClearTrust’s platform not only protects AdSpend but also shields brands’ reputations. It plays a pivotal role in enabling digital publishers to safeguard their ad revenues from real-time fake and invalid traffic.
Raja TN, co-founder and CTO of ClearTrust, said, “The rapid growth of ad inventory and outpacing demand has made digital advertising a breeding ground for fraudsters to exploit unsuspecting brands.”
Meanwhile, Ideaspring Capital managing partner Naganand Doraswamy said, “As digital ad formats evolve and more ads are trading programmatically, fraud detection processes are becoming complex. This results in 23 percent of all advertising spending being lost to fraud, estimated to reach $170 billion by 2028.”
“Cleartrust’s real-time, scalable cybersecurity platform will mitigate this risk. The platform works towards increasing revenue-generating traffic for advertisers, publishers, and ad networks,” added Naganand Doraswamy.
With 34 clients spanning the US, Israel, India, and Europe, ClearTrust addresses the critical need for robust anti-fraud measures. Programmatic media traders, often burdened by complex and costly anti-fraud technologies, find relief in ClearTrust, realizing cost savings of at least 30 percent.
Rapid Growth and Ambitious Goals
According to the company’s official statement, boasting a remarkable 3X annual growth over the last two years, ClearTrust envisions achieving a substantial yearly revenue of $10 million by 2027.
The startup offers a comprehensive suite of security solutions, including traffic scanning, precise tracking, and a real-time dashboard featuring over 140 traffic scoring filters, system alerts, and various customer-centric features.
ClearTrust’s successful funding round positions it as a formidable ad-tracking and fraud-detection player. The infusion of capital will drive global expansion and technological advancements, fortifying the company’s commitment to combating advertising fraud on a broader scale.
Abhay Agarwal, founder of Piper Serica Angel Fund, said, “We expect the company to be a global player in the next 2-3 years, helping large multinational companies run safe advertising and digital campaigns profitably and with increased ROI.”
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