Adveritas raises $3m to accelerate TrafficGuard sales
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Adveritas has received strong commitments for a $3 million placement for 30 million shares at $0.10 each.
The funds will strengthen the company’s balance sheet and support the acceleration of sales and marketing activities.
The company’s marketing team will drive further inbound lead generation and its sales team will aim to convert the strong sales pipeline it has built to date.
Adveritas (ASX:AV1) will also add additional sales and customer success personnel to deal with the high volume of trials occurring and increase its marketing spend in key digital channels to promote its TrafficGuard product to the mass market.
“With the end-to-end sales processes put in place to compress the sales cycle, along with recent growth in revenue and a record sales pipeline in multiple verticals which includes gaming, retail, on demand transport and many others, the company has decided to increase its investment into sales and marketing to accelerate the growth opportunities available,” co-founder and CEO Mathew Ratty said.
Ratty said the company’s ‘three by three’ sales model has grown its pipeline to the strongest level it has ever been – and provides significant cross and upsell opportunities.
“We have three pricing models – Freemium, land and expand, and long-dated contracts being sold across three channels – mass market, direct sales and third-party distribution,” he said.
The company’s fraud mitigation software, TrafficGuard, detects, mitigates and reports on digital ad fraud before it hits advertising budgets.
Essentially, it offers three formidable layers of protection, blocking fraud and invalid traffic to ensure that advertising results in real engagement.
The software combats the type of fraud Uber alleges it suffered when it engaged advertising agency Fetch, who they’re suing the to the tune of $40 million in the high profile case.
And with advertisers’ total loss to fraud forecast to rise to $100 billion by 2023, it’s no surprise the software has been welcomed by the industry.
“Our multiple award-winning product, TrafficGuard, has been well-received by the industry and is being increasingly used for the automated removal of invalid traffic as well as real time data analytics that gives marketing teams complete visibility on how and where invalid traffic is affecting them,” Ratty said.
“By using TrafficGuard, our clients are seeing better performance and maximising their return on ad spend, and it’s this performance that is driving increasing interest in TrafficGuard.”
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.