Gurgaon-based Simpli5d Technologies, which operates the Captcha ad platform NLPCaptcha has raised funding from YourNest Angel Fund and Udaan Angel Partners.
While the investment size was not disclosed, YourNest founder Sunil Goyal mentioned that they typically invest between Rs 1 crore to Rs 5 crore in return for a significant minority shareholding in the initial investment round. The company plans to used the funds raised to expand to new markets, improve their product and building a team.
Founded in 2012 by Amit Mittal and Sidharth Oswal, NLPCaptcha monetizes Captcha codes using advertising, replacing the usual blurry (or mathematical) codes that one has to enter while signing in or signing up for services. NLPCaptcha enables advertisers to combine images and videos with Captcha codes. It also has a mobile-customized version on offer.
The company claims to have tie-ups with more than 70 advertisers, including Idea, Airtel, Ibibo, Aircel, Tata, Visa, and DishTV among others and claims be working with over 300 publishers across various genres like news, jobs, entertainment, e-commerce and classifieds among others.
Competition: While we are not familiar with any Indian company that offers something similar to what NLPCaptcha does, Google offers something similar through reCAPTCHA which the company says helps them digitize old books and newspapers, improve maps, and solve hard AI problems.
Also Read: Would you advertise on CAPTCHA text?