Contained in the pitch deck utilized by information validation firm Truthset to boost $5 million
Based in San Francisco data the intelligence company Truthset announced that it had increased $5 million in Series A funding last weekmoney he wants to spend on improving the accuracy of the consumer data that powers the advertising industry.
The company says 60% of consumer data is inaccurate, leading to waste and reduced profitability for marketers, according to the pitch deck shared exclusively with ADWEEK.
His goal? Improving accuracy in the $1 trillion consumer data industry.
Truthset works with data providers like Experian, Transunion and Epsilon to analyze the accuracy of the data. Its patented algorithms analyze consumer records and assign accuracy scores to data points from 1.27 billion hashed emails and 147 million households.
A brand can use Truthset to filter out inaccurate records in an audience file before targeting to improve relevance. A publisher can use it to improve the fidelity of their audience data and increase match rates.
By removing these errors in data-driven marketing, Truthset claims it can unlock up to $100 billion in value.
Clients include Heineken, Paramount and TelevisaUnivision.
With this new funding, it wishes to develop its partnerships with CPG and CTV brands and publishers. It is also getting into the identifier game, with the project of launching solutions for abandonment of third-party cookies.
Check out the pitch deck below.
