Simpli5d raises bridge funding from Redcliffe's Jain, YourNest
Simpli5d Technologies Pvt Ltd, a Gurgaon-based company that provides digital anti-fraud tech solutions, has raised an undisclosed amount in bridge funding led by Dheeraj Jain, partner at UK-based hedge fund Redcliffe Capital, and existing investor YourNest Angel Fund.
Simpli5d, which owns Captcha-based digital ad platform NLPCaptcha.com, will use the funds for expansion, hiring and improving its tech infrastructure, the company said in a statement.
Jain said that Simpli5d operates in a large and untapped market and that it has high growth potential.
The company was started by Amit Mittal and Sidharth Oswal in 2012. IIM-Lucknow alumnus Mittal worked in the media sector for seven years, prior to starting Simpli5d. Oswal, an MBA from Fore School of Management, previously led sales of technology-enabled solutions for YES Bank, ICICI Bank and Kotak Mahindra Bank.
Simpli5d had raised an undisclosed amount in its pre-Series A round of funding from YourNest and Udaan Angel Partners in November 2014.
The company offers three products to control digital advertisement fraud and help advertisers better engage with their digital audience. The products are natural language processing (NLP) technology-based captcha, video and mobile engagement solutions.
Simpli5d claims it works with about 100 brands in the e-commerce, consumer goods, telecom, travel, auto and electronics sectors. It counts Lufthansa, Toyota Motor, British Airways, Axis Bank, Bharti Airtel, Procter & Gamble and Ibibo among its clients. It has sales offices in Bangkok and Madrid.
At the time of its last fundraising the company had said that humans account for less than 40 per cent of global web traffic. It added that nearly 70 per cent of banner ads have turned into blind spots and that video roll ads are skipped more than 70 per cent of the time.
According to the company, it gets money on a revenue-share business with publishers with no upfront costs.