Gurgaon based Simpli5d Technologies Pvt. Ltd, has raised an undisclosed amount in its second round of funding led by Dheeraj Jain, partner at UK-based hedge fund Redcliffe Capital and existing investors YourNest Angel Fund. The funds will be used for technology enhancements, expanding to new geographies, and for people investment, as per Amit Mittal, Founder and Chief Executive Officer.
Founded in 2012 by Amit Mittal and Sidharth Oswal, the startup 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. The company is currently working with over 100 brands in the e-commerce, FMCG, telecom, travel, auto and electronics sectors. Some of its key clients include Lufthansa, Toyota, British Airways, Axis Bank, Airtel, P&G, Ibibo to name a few.
Dheeraj Jain, partner at UK-based hedge fund Redcliffe Capital stated, “Simpli5d Technologies operates in a large and untapped market, with its disruptive product and great adoption by both the advertisers and publishers, I could foresee their potential to be a global company soon”.
Previously, it had raised an undisclosed amount in Pre-Series A funding led by YourNest Angel Fund along with the participation of Udaan Angel Partners in November 2014.
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