Clean.io, a startup that protects digital publishers against malicious ads, has raised around $5 million in Series A funding round.
The Baltimore-based startup isn’t the only one that is fighting against malvertising, such as directing visitors to another site. However, the co-founder stated that the company gives total control over who uses the JavaScript.
The CEO, Matt Gillis, stated this week that the challenge will always be huge. He stated, “An antivirus needs constant updates to improve protection. Similarly, we need to be aware of the fact that bad actors will try to evade direction and will get around the wall put in front of them.”
The company stated that currently, it is using its website on over 7 million websites. The main customers of the company are Warner Media’s Xandr, Imgur, and The Boston Globe.
In total, Clean.io has raised around $7.5 million. The Series A round was led by Tribeca Ventures. Other investors have also participated, like Loop Capital, Real Ventures, and Grit Capital Ventures.
Gillis initially planned to raise the funding at the end of February but put his plans on hold due to the COVID-19 pandemic. He did all his pitching through Zoom and appreciated Tribeca’s Chip Meakem as a world-class partner.
COVID-19 pandemic has affected different businesses. The effect of the pandemic on digital advertising is beyond pausing Gillis’ fundraising process. And when it comes to the malicious ads, he stated that in March, bad actors capitalized on the opportunity. However, the company has been quick on its feet and has tried its best to stop the bad actors during the global COVID-19 pandemic.
“We saw a really big threat to bad advertising in mid-March until May,” Gillis stated, “The demand for our solutions has increased due to the increasing demand of COVID-19. Now, publishers need to protect revenue and user-experience.”
