Cybersecurity and IP analytics startup, Com Olho raised INR 1.8 CR in a seed round led by Inflection Point Ventures. Funds raised will be used for technology hiring, technology stack enhancement and aggressive market penetration (India, MENA and APAC).
Com Olho is India’s first company to be granted a patent for non-rule-based ad fraud detection. With this, the company was able to deliver at least 20% MoM savings even on cost-per-sale (CPS) campaigns and improve ad viewability with their brand safety toolkit. . The company uses deep learning and clustering to analyze company data and identify fraudulent patterns with a high probability of success. The company holds 3 patents (1 granted, 1 published in India and one application published with the United States Patent Office.)
Mitesh Shah, Co-Founder, Inflection Point Ventures says, “As digital marketing, product and performance marketing become the new era mantra for businesses, they are also facing issues of ad fraud, return on media spend and efficiency delivered through each ad made. 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 which can be administered to dispute payments, should the need arise to expose any advertising fraud. We believe we are the forerunners in such a cutting-edge segment. As we move closer to the metaverse and digital life, there are bound to be concerns about customer data. Com Olho is rightly poised to leverage his understanding of all things digital. »
Com Olho’s product suite includes an end-to-end AI-based solution to identify sources of malpractice, empirically prove fraud, and deliver a real-time dashboard ready with interpretation resulting in deterministic savings. The company is also working on first-party data and encrypted digital governance. The company works with some of the world’s leading financial and e-commerce companies such as Indiabulls Group, Airtel, Aditya Birla Group, Revv, etc.
The Com Olho team is led by Abhinav who has spent a significant portion of his career building and scaling profitable business units with over 7 years of experience in product management, sales technologies, big data and machine learning.
Com Olho is a registered name under Com Olho IT Private Limited. It is a startup recognized by Startup India, Department of Promotion of Industry and Internal Trade, Government of India.
Abhinav Bangia, Founder and CTO, Com Olho says“At Com Olho, we are creating innovative AI-based technology to help businesses and governments mitigate the risks arising from various types of digital fraud. We are the first Indian company to obtain a patent grant for the detection from ad fraud, to which Indian advertisers will lose 6,000 CR in 2022. The IPV team believed in our cause and vision and is supporting us with a growth strategy and investments. entrepreneurial spirit in their venture capital practices, which I think clearly differentiates them from others. The whole fundraising process was well structured, transparent and accurate.”
Lloyd Mathias, Co-Founder and Advisor, Com Olho says, “Ad fraud is becoming a huge problem with the growing share of digital advertising in total ad spend. While performance marketing has pioneered attribution metrics such as cost per click, cost per engagement, and cost per transaction; what many marketers don’t realize is that many of these clicks, transactions, and engagements are fraudulent and just a way to claim attribution. Com Olho’s solution is exactly what digital advertisers need to reduce or even completely eliminate digital ad fraud.
India’s digital advertising market is large and advertisers are expected to spend INR 24,000 crore on mobile ads by 2022, with around INR 6,000 crore of this estimated amount to be lost to ad fraud. Com Olho aims to address 10% of this market, i.e. 600,000,000,000 RS Advertisers worldwide will spend over $740 billion on digital advertising by 2022. Losses due to ad fraud digital would be $42 billion by 2022. They have a first mover advantage in a relatively nascent market.