Simpli5d Technologies raises capital for expansion

Source: mint

OCT 27, 2015 –Now, Simpli5d Technologies raises capital for expansion

Gurgaon-based Simpli5d Technologies Pvt. Ltd, which operates digital products start-up, has raised an undisclosed amount in a bridge round from Dheeraj Jain, partner at UK-based hedge fund Redcliffe Capital, and existing investors YourNest Angel Fund and Udaan Angel Partners, a senior executive of the company said.

The firm will use the funds for technology enhancement, team expansion and to reach new geographies, said Amit Mittal, founder and chief executive officer, Simpli5d Technologies.

The company currently has operations in Spain and Thailand, besides India, and plans to expand to other South East Asian countries shortly. The company is already in talks with foreign and domestic venture capital funds to raise $6 million-7 million in a Series A round, Mittal said, declining to share further details.

Simpli5d last raised an undisclosed amount in its first round from YourNest Angel Fund and Udaan Angel Partners in November 2014.

In order to get consumers’ 100 per cent focused attention as well as a high recall for the brand, the firm launched NLPCaptcha.

Founded in 2012 by Mittal and Sidharth Oswal, Simpli5d is a digital engagement solutions company which offers three products to control advertisement frauds and also to help advertisers reach out to their digital audience in an engaging manner. The products are natural language processing (NLP) technology-based captcha, video and mobile engagement solutions.

It plans to come up with a new product for monetization of premium content in three to four weeks.

The company claims that its technology acts as a gatekeeper against non-human traffic and ensures the brands and publisher’s money is spent on real people.

According to an internal study by the company, the market size of audience intelligence platform is $59 billion globally. It also says that over 56% of the overall Internet traffic is driven by ad frauds. At the same time, 56% ads on websites are never viewed globally.

These problems remain unsolved because of the structural limitations with existing companies operating in silos.

An Indian Institute of Management (IIM) Lucknow alumnus, Mittal has over seven years of experience in the media sector with companies such as Dainik Bhaskar.

Oswal is an MBA from Fore School of Management and has worked in the banking sector spearheading sales of technology-enabled solutions for banks like Yes Bank Ltd, ICICI Bank Ltd and Kotak Mahindra Bank Ltd.

It works on revenue sharing basis with the brands.