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ClearTrust Secures $1.9M in Pre-Series A Funding to Fight Ad Fraud

Funding Alert

ClearTrust, a leading ad tracking and fraud detection platform, has successfully raised $1.9 million in a pre-Series A funding round led by venture capital firm Ideaspring Capital. Piper Serica Angel Fund also participated in the funding round, with ongoing support from existing investor Alacrity India.

Founded in 2020 by seasoned tech visionaries Deepankar Biswas and Raja TN, ClearTrust aims to address the challenges of ad fraud in the digital advertising space. Prior to this round, ClearTrust secured $200,000 in a seed round in 2021 from Alacrity India, Limelight UK and ThinkNext LLC.

The rise of bots and invalid traffic due to new digital ad formats and lack of standardization have exposed advertisers and publishers to increased risks. ClearTrust’s industry-leading fraud tracking and detection platform, including ClearScan and ClearTrack products, helps ad operations, media buying companies and teams around the world mitigate these risks.

Deepankar Biswas, Co-Founder and CEO of ClearTrust, emphasized their mission, saying, “We’re all about making online advertising safe and trustworthy. Our ambition is to promote paradigm shifts, particularly in the fight against ad fraud, a challenge plaguing the digital advertising space worldwide.”

With the new funding, ClearTrust plans to expand its operations into North America and further invest in research and development in AI, cybersecurity and deep technologies to develop critical filters for detecting ad fraud. The company currently serves 34 clients in the US, Israel, India and Europe.

Raja TN, Co-Founder and CTO of ClearTrust, highlighted the challenges facing digital advertising due to rapid growth and outstripping demand, saying: “Programmatic media marketers are particularly vulnerable, often hampered by complex and expensive anti-fraud technologies, leading to a lack of trust in advertisers. ClearTrust helps save costs by at least 30%.

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Ideaspring Capital’s Managing Partner, Naganand Doraswamy, expressed his excitement about the partnership with ClearTrust, stating, “Clearrust’s extensible real-time cybersecurity platform will mitigate this risk. The platform works to increase revenue-generating traffic for advertisers, publishers and ad networks.”

Abhay Agarwal, founder of Piper Serica Angel Fund, also shared his perspective on the industry’s challenges, noting, “Ad fraud is an escalating threat to the advertising industry, which various reports estimate will cost advertisers about $170 billion by 2028. We feel ClearTrust has built some cutting-edge technology to address these challenges head-on and effectively.”

ClearTrust aims to be the leader in the ad fraud detection segment, targeting a $10 billion per year affordable market to serve. The company has tripled annual growth over the past two years and is targeting $10 million in annual revenue by 2027.

The platform offers security solutions, including traffic scanning, accurate monitoring and a real-time dashboard with more than 140 traffic evaluation filters, system alerts and customer-centric features. ClearTrust’s products, ClearScan and ClearTrack, are designed to protect publishers, networks, brands and agencies from invalid traffic and fraudulent activity and ensure the integrity and profitability of digital campaigns.

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