Cyber security start-up, Com Olho on Tuesday announced that it has raised ₹1.8 crore in a Seed round led by Inflection Point Ventures.
The company will utlise the funds raised towards tech hiring, tech stack improvement and aggressive market penetration (India, MENA & APAC), it said.
Com Olho uses deep learning and clustering to analyse enterprises’ data and identify fraudulent patterns. Its product suite comprises an end-to-end AI based solution. The solution helps identify sources of malpractice, empirically prove the fraud, and provide a ready real-time dashboard with interpretation.
It is India’s first company to be granted a patent for non-rule-based ad fraud detection. Overall, it holds three patents (one granted, one published in India, and has one published application with the United States Patent Office.)
The company is also working towards first party data and encrypted digital governance. It works with global financial and e-commerce firms such as Indiabulls Group, Airtel, Aditya Birla Group, Revv, etc.
Tackling ad fraud
Abhinav Bangia, Founder & CTO, Com Olho, said, “We at Com Olho create innovative AI-based technology to help enterprises and governments mitigate the risks arising from various kinds of digital frauds. The team at IPV believed in our cause and vision and are supporting us with growth strategy and investment. The entire fund-raising process was well structured, seamless and to the point.”
Lloyd Mathias, Co-Founder & Advisor, said, “Ad Fraud is becoming a huge issue with Digital Advertising’s share of total ad spend growing. While performance marketing has been driving attribution metrics like cost per click, cost per engagement, and cost per transaction; what many marketers don’t realise is that many of these clicks, transactions and engagement are fraudulent and just a way to claim attribution.”
“Com Olho’s solution is just what digital advertisers need to reduce if not eliminate digital ad fraud completely,” added Mathias.
Mitesh Shah, Co-Founder, Inflection Point Ventures, said, “As digital marketing, product and performance marketing become the new age mantra for the companies, they are also dealing with ad fraud issues, return on media spends and efficacy delivered via each ad done.”
“So far, there is no definitive way to determine any of these factors. Com Olho using its patented technology is able to provide this intensive knowledge and their reports that can be administered to challenge payouts , should the need arise for exposing any ad fraud. We believe we are first mover in such a cutting-edge segment. As we move closer towards Metaverse and digital life, there is bound to be concerns about customer’s data. Com Olho is rightly poised to leverage their understanding of everything digital,” said Shah. The Hindu BusinessLine