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Saturday, September 23, 2023

Adtech startup mFilterIt fights ad fraud to help brands save millions

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Gurugram-based mFilterIt has worked with various businesses to make their media spend more efficient by checking advertisement fraud and traffic violations. The company has so far worked with over 500 brands from various industries.

Advertisements are becoming an essential part of running a digital business. Many online platforms, like the one where you’re reading this, rely on ad income as part of their economic strategy. According to Oberlo, companies spend almost $602 billion on digital advertising globally, accounting for around 66.4% of total media ad spending.

While digital advertising is growing at a pace of more than 12% per year, the number of frauds and ad traffic validations is also increasing. By the end of 2022, it is anticipated that ad fraud will have cost the globe $68 billion. As a result, there is a lack of trust among the many participants in the value chain.

Amit Relan, CEO and Co-founder of mFilterIt, said, “The advertiser should have transparency and trust in where and how much money is being spent. At the same time, the publisher and agency partners should match the brand’s expectations.”

mFilterIt, founded in 2015 by Amit and Dhiraj Gupta, promises to fill that need by delivering real-time data to advertisers, publishers, affiliates, and other associated parties to assist them evaluate the returns on their digital investments.

Knowing the sector inside and out, they recognized that bots are the principal weapon of digital advertising fraud, with numerous platforms inflating traffic figures by employing false accounts.

“Our initial job was to alert advertisers to the issue and demonstrate the existence of bots and bogus traffic.”

The Gurugram-based firm has launched an awareness campaign centered on the ‘Zero Trust Framework,’ educating advertisers on the need of working with a third-party traffic verification solution provider such as mFilterIt rather than relying on data supplied by publishers and affiliates.

It also communicates with publishers to provide them with a full and transparent report that includes the reasons why the traffic was flagged as illegitimate.

What services does it provide?

mFilterIt is a cross-platform digital integrity protection firm that offers the following services: Ad traffic verification:

Its program detects and removes fraudulent digital advertising traffic. Its products secure organizations’ online and app assets by ensuring campaigns operate in accordance with brand requirements throughout the digital media environment.

mFilterIt provides a real-time analytics solution, mScanIt, to measure brand competitiveness from a consumer viewpoint throughout the digital retail ecosystem.

Mobile identity solutions: A tool for quiet user verification and one-touch authentication that is secure and quick. Analysis of seller risk and merchant onboarding: End-to-end workflow orchestration and adjustable integration adapters that automatically collect information from internal and external systems and databases save merchant onboarding time and expense.

Non-compliant language, picture, and graphic aspects of the creative are flagged by the startup’s creative compliance tool.

Chargeback: It protects payment businesses against dangerous consumers and transactions while also allowing them to deliver value-added services to their merchants by bundling the managed risk solution with each transaction handled on the platform.

mFilterIt interacts with the advertiser’s attribution and analytics platform to minimize dangerous brand placement and block digital media leaks. Its solutions are cloud-based and built on the AWS infrastructure. The monitored data is given into AI to determine whether or not the user is real.

Amit adds that the ad traffic validation suite, which is upgraded to tackle new forms of fraud, took the business four to six months to develop.

“The capacity to deterministically identify genuine performance through a multi-factor, complicated device signature solution is the key strength of our technology.”

Over 500 businesses in industries such as banking, finance, FMCG, and gaming have used the startup’s services.  It verifies approximately two billion transactions every week and covers three billion unique devices.

The firm claims to have improved metrics such as click-to-conversion rate and lowered average capital planning and management solutions (CPMs) and cost per click with a 20% increase in average return on ad expenditures (ROAS) (CPCs). It also claims to have saved clients $400 million so far, based on the average client advertising expenditure and the proportion of fraud discovered. Pidilite, an adhesive manufacturing firm, is one of their benefactors.

mFilterIt operates on a mixed income model, charging an unknown fee based on media volume or a portion of media expenditure for ad traffic validation.  Pricing for ecommerce intelligence systems is determined by the amount of platforms, SKUs, and rivals to be tracked.

Revenue is increasing by 40% year on year. In FY22, mFilter earned more than Rs 41 crore.

“In the worldwide ad fraud report, our rivals reported 1% fraud, when we detected over 30% fraud for the same platforms,” Amit asserts.

In addition to India, the firm has a presence in APAC, MENA, and North America. It derives around 75% of its revenue from India and 25% from overseas markets.

To bootstrap the venture, the founders first acquired undisclosed financing from telecom solutions provider 6D Technologies in 2015.

The company presently employs over 250 people worldwide and competes with companies such as Double Verify, Integral Ad Science (IAS), and Oracle MOAT, to mention a few. It plans to more than fivefold its income during the next three years.

It intends to broaden its worldwide reach and is now working to boost sales and other distribution channels in major foreign regions.

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