Cybersecurity firm ClearTrust raises $1.9 million in funding led by Ideaspring Capital, others

ClearTrust, a new-age ad tracking and fraud detection platform, said it raised $1.9 million in a pre-Series A funding round led by venture capital firm Ideaspring Capital with participation from Piper Serica Angel Fund.

Existing investor Alacrity India also participated in the round. Before the new round, ClearTrust had raised $200,000 in a seed round from Alacrity India, Limelight UK, and ThinkNext LLC in 2021.

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With the fresh funding, the company plans to expand its operations into North America and further invest in research and development in AI, cybersecurity, and deeptech to develop critical filters that will help detect advertising frauds that have become one of the biggest threats to the advertising industry lately. ClearTrust has 34 clients in the US, Israel, India, and Europe.
“We are all about making online advertising safe and trustworthy. Our ambition is to pioneer paradigm shifts, particularly in combating ad fraud, a challenge that plagues the digital advertising space globally. 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,” said Deepankar Biswas, cofounder and CEO, ClearTrust.

The advent of new digital advertising formats and lack of standardization has exposed advertisers and publishers to increased traffic quality risks, and there has been a spurt in bot and invalid traffic. Founded in 2020 by Biswas and Raja TN, ClearTrust helps advertising ops, media buying companies and teams worldwide with its tracking and fraud detection platform.

It helps advertisers, agencies and networks to achieve higher return on investment (ROI) on their digital campaigns by removing fraudulent and fake activity from their campaigns, thereby protecting AdSpend and brands’ reputation. Ad frauds are an escalating threat to the advertising industry that cost advertisers about $170 billion in 2028, it said.

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“We feel ClearTrust has created some cutting-edge technologies to tackle these challenges head-on and efficiently, making it easier for companies to spot invalid and fake ad activity. We expect the company to be a global player in the next two-three years, helping large multinational companies run safe advertising and digital campaigns profitably and with increased ROI,” Abhay Agarwal, founder of Piper Serica Angel Fund, said.The company’s products are designed to protect publishers, networks, brands, and agencies from invalid traffic and fraudulent activities, ensuring the integrity and profitability of digital campaigns. ClearTrust aims to be a leader in the segment by targeting a served market of $10 billion annually. The company has witnessed a three times annual growth for the last two years and aims for a yearly revenue of $10 million by 2027.

The platform offers security solutions, including traffic scanning, precise tracking, and a real-time dashboard with over 140 traffic scoring filters, system alerts.

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