22, Jun 2023
TrafficGuard raises $6.5 million via strongly supported placement
In addition to the latest funding Trafficguard has onboarded India Gifting Portal(IGP) and RupeeRedee
22 June, India: TrafficGuard, an omnichannel ad verification platform, today announces that it has launched a $9 million capital raise with $6.5m cornered via a strongly supported and upsized two-tranche share placement (Placement) to existing long-term sophisticated investor shareholders and new high-quality institutional shareholders. The placement will witness the firm issuing a total of 135,416,666 new fully paid ordinary shares in two tranches.
Highlighting the importance of the fresh capital, Mathew Ratty, CEO and Co-Founder, of TrafficGuard said, “In the modern era where brands are busy embracing digital transformation, the rise of new-age bots, SDK spoofing and click spamming has fueled the growth of advertising fraud. Today, ad fraud is costing advertisers a staggering $127 billion per year. To combat these issues, modern-day advertisers desperately need innovative, tech-enabled solutions to measure and verify traffic. This is where TrafficGuard has carved its niche as one of the most-preferred partners to several well-known, multi-billion dollar global enterprises in their bid to curb faux engagement, reduce ad spend and unlock the best advertising results.”
“We, at TrafficGuard, have grown exponentially on the back of our customer-centric approach and meticulous efforts to raise awareness among marketers pertaining to ad fraud and best practices to negate it. And, the latest funding is a testament to the hard work of our dedicated team of engineers and data scientists in creating award-winning products. Aligned with our long-term vision of aiding global brands, the funding will not only contribute to our enterprise level strategy but also play a pivotal role in monetising our self-serve product consisting of youtube, search, display, discovery, etc. With over 4,500 sign ups on our freemium version, we look forward to rolling out our new reporting suite to the mass markets,” he added.
In what appears to be a lucrative opportunity for its shareholders, TrafficGuard will also be seen rolling out an optional Share Purchase Plan (SPP) which will exclusively allow eligible shareholders to purchase up to $30,000 worth of shares at the same issue price as the Placement regardless of the size of their shareholding, sans any brokerage or transaction costs. The SPP will be integral in the company’s vision to raise up to $2.5 million.
TrafficGuard, with the proceeds from the Placement and the SPP, aims to fund processes to streamline the company’s pipeline of enterprise customers, vital enhancements to its products, development of new product features and capabilities; and sales and marketing initiatives to further grow its customer base.