BlokID secures $1.25M for safeguarding privacy in digital advertising
- ByStartupStory | February 5, 2024
Vietnamese startup BlokID has successfully secured $1.25 million in a seed funding round led by Ascend Vietnam Ventures and AppWorks, with plans to utilize the capital for product development, user acquisition, and market expansion, aiming for a Q2 2024 launch. Established in July 2023, BlokID utilizes blockchain technology to provide a trustworthy source of truth in the digital advertising space. Advertisers using BlokID can verify ads, perform attribution audits, and ensure privacy with bonded privacy insurance through one-click campaigns integrated with platforms such as Google, Facebook, DV360, Xander, and The Trade Desk.
BlokID addresses crucial issues in the industry, including ad attribution, enabling clients to verify the attribution of ad conversions and detect discrepancies in reported data. It also offers privacy insurance using blockchain timestamping to notify clients immediately of any third-party access to information. Additionally, BlokID facilitates the transition from Universal Analytics to GA4, providing free event transparency to all Google Analytics users.
BlokID’s approach gains significance in the wake of escalating privacy concerns, data breaches, and legal disputes. The platform aims to prevent breaches and promptly notify clients of any unauthorized third-party access, empowering brands and agencies to uphold trust with their customers. Binh Tran, General Partner at Ascend Vietnam Ventures, commented, “In an era where digital advertising faces unprecedented challenges, BlokID aims to be a beacon of hope. They are not just solving complex problems of ad attribution but are also navigating the intricate landscape of privacy regulations.”
The company’s future plans involve introducing Google Analytics plug-ins and Financial Identity features to enhance user empowerment and data protection. With a mission to bring independence and immutability to digital advertising through blockchain, BlokID positions itself as a solution provider in a rapidly evolving industry.
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