Gurgaon-based Simpli5d Technologies which makes digital anti-fraud technology for digital advertisers, has raised an undisclosed amount of funding in series A round. The funding was led by Dheeraj Jain, partner at UK-based hedge fund Redcliffe Capital and existing investors YourNest Angel Fund. Most of the funding will be used for technology enhancements, along with expansion in new geographies and for people investment, as per Amit Mittal, Founder and Chief Executive Officer, Simpli5d Technologies.
The digital engagement solutions company was founded by by Amit Mittal and Sidharth Oswal in 2012. It offers three products including natural language processing (NLP) technology-based captcha, video and mobile engagement solutions, to control advertisement frauds as well as help advertisers to reach out to their digital audience. The firm is also looking out to come up with a new product for monetization of digital premium content in the coming 3-4 weeks.
The company is currently working with over 100 brands including Lufthansa, Toyota, British Airways, Axis Bank, Airtel, P&G, Ibibo among others.
The company has global presence with sales offices in Mumbai, Bangkok (Thailand) and Madrid (Spain). It is currently working with more than 800 publishers which include OneIndia, Sify.com, Daily Motion etc. and claims to have 51 million audience profiles.
In November 2014, Simpli5d secured pre-series A funding led by YourNest Angel Fund with participation from Udaan Angel Partners.
In the past two years, a lot has been happening in the ad tech industry. The sector has seen a few high profiles acquisitions of late. Facebook, Google, Yahoo, and Twitter have acquired such kind of firms and have eaten up most of the ad tech market share. Not only these companies, but firms like AdRoll, InMobi and AppNexus have already established their footprints in the space. So in future, it seems that large companies will continue to look into acquiring smaller companies as they realize the massive opportunity in online, programmatic, and mobile advertising.