BlokID, developers of blockchain-powered privacy protection solutions for the digital advertising industry announced the completion of a US$1.25 million seed round of financing led by Ascend Vietnam Ventures and AppWorks.
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Following major privacy violations and litigation cases in recent years, brands understand the severity and heavy cost of data breaches as major threats to business reputation and user loyalty, requiring brands to allocate a significant portion of their budget to brand safety. BlokID provides an easy and cost-effective solution to prevent breaches from occurring.
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“I want to extend a special thanks to Binh Tran, General Partner at AVV, and Jun Wakabayashi, Principal at AppWorks, for their belief in the mission of BlokID. Their insights and strategic guidance will be instrumental in shaping our go-to-market strategy,” said Michael Hahn, Founder and CEO, BlokID.
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With this round of financing, BlokID will accelerate product development, focus on user acquisition, and initiate market expansion—with an outlook to launch by Q2 2024. The company plans to roll out Google Analytics plug-ins and Financial Identity features to further empower users and safeguard their information.
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“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. Mike’s leadership and his ability to both dream big and execute with precision are what will set BlokID apart in this growing industry,” said Binh Tran, General Partner, AVV.
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“Michael is a seasoned entrepreneur who brings forth a wealth of experience in adtech and data analytics. We’re excited to back his vision in leveraging the latest innovations in blockchain technology to bring more transparency to the attribution world, while also tackling the increasingly growing concern of privacy protection for both companies and their customers in the digital world,” said Jun Wakabayashi, Principal, AppWorks.
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About BlokID
Founded in July 2023, BlokID is a next generation developer of privacy protection solutions for the digital advertising industry, leveraging blockchain technology to bring an independent, immutable source of truth to digital advertising. By utilizing BlokID, advertisers are able to seamlessly verify ads, conduct attribution audits, and guarantee privacy with bonded privacy insurance.
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