Check out the pitch deck that helped adtech metadata startup Sincera raise $4.2 million in seed funding – DAVID RAUDALES

DAVID RAUDALES

Businessman, musician / former Full Stack Developer

DAVID RAUDALES UK

Check out the pitch deck that helped adtech metadata startup Sincera raise $4.2 million in seed funding

Sincera cofounders Mike O’Sullivan and Ian Meyers.

Sincera

Adtech startup Sincera, which offers metadata to other adtech firms, raised $4.2 million in funding.
The company plans to grow its team and access more compute through its cloud providers.
Check out the pitch deck that helped it raise funds from investors including NextView Ventures.

Sincera, a startup that uses metadata to help adtech companies improve their offerings, just raised a $4.2 million seed round.

The New York-based company, founded in 2022, offers a telemetry service that crawls websites to determine everything that is informing the ad transactions that take place there.

Much like a secret shopper visits a retail store, Sincera imitates a real user and can help adtech companies analyze, for example, the types of technology a publisher is using to identify its readers or whether the site is compliant with local privacy laws.

Sincera Cofounder Mike O’Sullivan met his fellow cofounder Ian Meyers when he was leading product at the supply-side platform Index Exchange, which was partnering with data platform LiveRamp, where Meyer was leading its identity solution. The pair stayed in touch and would work on thorny, laborious, and often unglamorous adtech problems “at nights and weekends for fun,” O’Sullivan said. Over time, they realized there was a business in this work.

“We’re like Mike Rowe of ‘Dirty Jobs,’ the guy who goes on the Discovery Channel who looks at what it’s like to be a sewer inspector — that’s what we are of adtech,” O’Sullivan told Insider.

The origin of the name Sincera came from a folk tale O’Sullivan’s father would tell him when he was younger about about the etymology of the word “sincere.” After Greek cities had been plundered, Roman bazaars would often sell statues. But weeks after people had taken them home, the statues would start to melt because they had been patched up with wax. So, the story goes, some stall holders would display signs saying “sine” — meaning “without” in Latin — “cera,” the word for wax to demonstrate the quality of their sculptures.

“There was a truthfulness we thought was lacking in the dialog of much of the industry and also how products were being used and made,” O’Sullivan said.

Sincera intends only to work with adtech companies and instead charges a monthly fee for access to its data and some additional processing fees. Customers to date have included LiveRamp, identity company ID5, and publicly traded adtech company The Trade Desk.

Sincera’s seed round was led by NextView Ventures. AperiamVentures, LiveRamp Ventures, and The Trade Desk’s TD7 venture fund also participated. 

Sincera plans to invest the fresh funds in expanding its current team of nine to around 14, with intentions to hire heads of sales, go-to-market strategy, customer analysis, and in its engineering team.  It plans to invest the remainder in compute as it grows its customer base and begins to crawl more data in areas like in-app advertising and connected-TV.

Check out the key slides from the pitch deck that helped Sincera raise its $4.2 million seed funding round.

Sincera describes itself as a ‘metadata company.’

Sincera

It was founded by former LiveRamp product VP Ian Meyers and former Index Exchange and Roku product VP Mike O’Sullivan.

Sincera

Sincera listed some hypothetical examples where its data-crawling technology could help the industry. Business Insider is not a Sincera client. Sincera only works with adtech companies.

Sincera

Sincera says it offers a solution that most other companies don’t want to solve because it’s laborious work and other companies want to connect such metadata with advertising transactions. Sincera says this means those companies can’t be neutral.

Sincera

There are lots of companies that offer similar types of solutions because they also generate data for advertisers and publishers. Sincera says these are the types of companies that could become its customers because it can help them improve their products.

Sincera

O’Sullivan said adtech companies can use its metadata product before deciding to embark on expensive and time-consuming onboarding with other data providers.

Sincera

Sincera uses a ‘synthetic user engine’ to mimic a real user browsing a site. It also has a software development kit that can be embedded to crawl apps and allows customers to upload their own logs to do automated analysis or anomaly detection.

Sincera

Sincera says it can help companies better evaluate the market and their competitors, accelerate the time it takes to ship new products, and reduce costs.

Sincera

Sincera also offers a free industry dashboard on its website.

Sincera

Sincera plans to use its new funding to grow its team and scale its machine learning function, including by accessing more compute through Amazon Web Services.

Sincera

Read the original article on Business Insider