BlokID, a developer of blockchain-powered privacy protection solutions for the digital advertising industry, announced the completion of a $1.25 million seed round of financing led by Ascend Vietnam Ventures and AppWorks.
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 through one click campaigns integrated with Google, Facebook, DV360, Xander, and The Trade Desk.
Recognizing the trust and privacy issues that brands and agencies face in digital advertising, BlokID solves three key problems—Ad Attribution: allowing clients to verify attribution of ad conversion and detect variances against data reported; Privacy Insurance: utilizing blockchain timestamping to immediately notify clients of any third party access of information; and GA4 Transparency: moving to GA4 away from Universal Analytics to offer event transparency to all Google Analytics users for free.
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. It sends immediate notifications to clients of any third-party access to their information, providing an unparalleled level of control and security to help brands and agencies build and maintain trust with their customers.
In turn, brands are able to direct their attention to their core business—delivering impactful results and building strong relationships with their audiences—without having to worry about their data.
BlokID is led by Michael Hahn (CEO), a former executive at Oracle Corporation and Valassis and 20 year veteran in the advertising industry, who recognized the shortcomings of existing solutions in protecting user privacy.
Hahn set out to build solutions that would empower users and businesses with tools to navigate the digital landscape safely and securely, building off a rising tide of user demand for greater control of their data.