TrafficGuard, an ad verification platform operating across multiple channels, has announced the successful completion of a capital raise, securing $9 million in funding. The raise involved a two-tranche share placement, with existing long-term sophisticated investor shareholders and new institutional shareholders contributing $6.5 million. As part of the placement, TrafficGuard issued a total of 135,416,666 new fully paid ordinary shares.
The CEO and Co-Founder of TrafficGuard, Mathew Ratty 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 addition to the share placement, TrafficGuard intends to launch an optional Share Purchase Plan (SPP), allowing eligible shareholders to purchase shares worth up to $30,000 at the same issue price as the placement, without incurring any brokerage or transaction costs. The SPP aims to raise up to $2.5 million.
With the proceeds from the Placement and the SPP, TrafficGuard plans to streamline its pipeline of enterprise customers, enhance its existing products, develop new features and capabilities, and implement sales and marketing initiatives to expand its customer base.
