Specialising in revealing hidden fraud in digital advertising, award-winning enbrite.ly recently closed a €750,000 funding round with Austrian VC fund SpeedInvest. A new partnership between enbrite.ly and the Vienna-based business development agency Studio Binär significantly extends the reach for new clients in the DACH and CEE markets.
enbrite.ly (www.enbrite.ly), an innovative anti-fraud solution provider for the digital advertising industry has recently closed a €750,000 funding round with the venture capital fund Speedinvest (www.speedinvest.com) based in Vienna and Silicon Valley. The investment that also involved Evli Bank (www.evli.com) from Finland and Enbritely Holdings, a consortium of angel investors, followed enbrite.ly’s victory at the Slush Prize (www.slush.org) in Helsinki last November.
Photo by Samuli Pentti Photography
“Our strong team of investment partners clearly see the business potentials in the services we provide. We believe that the fight against ad fraud, beyond its financial benefits, is a pursuit anyone would be proud to belong to.” said enbrite.ly co-founder Oszkár Rimóczi.
enbrite.ly aims at a near 100% accuracy in “finding humans on the Internet” for the purposes of online advertising. The solution monitors traffic sources and reveals hidden fraud activity such as botnets for full transparency in digital transactions. Botnets are networks of computers controlled without the users being aware, typically for criminal activities including various forms of digital ad fraud. Bot fraud is expected to grab over $6 billion from the digital advertising industry in 2015, according to a report from the Association of National Advertisers.
“We believe in transparency,” said Gergő Varga, co-founder of enbrite.ly “and we can help restore full trust in online advertising. We’re amplifying the conversation about advertising fraud and scaling our operation far and wide.”
To extend enbrite.ly’s reach in the DACH and CEE markets, the company partners with Vienna-based business development agency Studio Binär (www.studiobinaer.com), a member of the Internet Advertising Bureau (http://www.iab-austria.at/). The agency works with a wide portfolio of partners in CEE from Switzerland to Greece. Akos Szabo, the managing director of Studio Binär is an internationally seasoned professional and a veteran of digital advertising originally from Budapest. He is contributing to the Programmatic/Real Time Advertising Workgroup of IAB Austria and in 2012 he received the IAB Hungary Award.
“The rapidly increasing rate of fraud is one of the most pressing challenges of the digital advertising industry.” said Akos Szabo, Managing Director of Studio Binär. “The dynamic development of advertising technology brings with it a variety of sophisticated criminal activities previously unheard of. We are proud to be enbrite.ly’s evangelist and business development partner in the DACH markets and the CEE.”