In an age where brand are increasingly turning digital to reach the right audience, it becomes extremely essential for them to measure the impact digital campaigns are actually creating. Fake or unrealistic tracking data and multiple other issues with numbers provided by advertising platforms often tends to mislead brands on the actual impact they are creating.
Clootrack, a Bangalore based startup, identified the problem and the business this could generate. And now, it has found backers in Indian Angel Network, SEA Fund and Malabar angel network, which have together put in $500K as seed capital in the company.
Founded in April 2017, Clootrack is the first of its kind AI driven data analytics platform that discovers and measures brand perceptions in real time. Clootrack does this based on analysis of customer conversations in various online media and customer care tickets. Clootrack discovers brand perception elements in an unsupervised manner from text conversations. The company runs on a proprietary, patent-pending deep learning algorithms based on proven mathematical models.
Talking about this round, Clootrack co-founder Shameel Abdulla says,
It is encouraging to see top tier investors continually backing our vision and trusting in our business. We are glad to have kept our burn ratio low and built the business where healthy traction, better algorithms and deeper use of Machine Learning is showing near real time results to our customers.
Unicorn India Ventures also participated in the round. Anthony Thomas, Global CIO, Nissan Motors and Salliel Gupta have led the round on behalf of IAN with Anthony joining the company board. IAN investor group also includes Kris Gopalakrishnan (Co Founder, Infosys).