Toronto tech startup Trufan bags $2M seed funding to grow its browser extension that lets consumers earn rewards and money for sharing data | Tech News

Huge tech firms love to gather knowledge on their customers. Your private knowledge is a scorching commodity for manufacturers and corporations that wish to goal a particular buyer section and optimize their providers. As an example, the email address of a single internet user is worth $89 to any model.

In 2020, big tech companies earned over $500 billion from monitoring and promoting shopper knowledge, whereas people didn’t obtain a penny in return. Now, one tech startup is making an attempt to show the large tech enterprise mannequin on its head by letting shoppers earn rewards and cash for sharing knowledge.

Enter Trufan, a Toronto, Canada-based startup that gives an viewers administration platform to assist manufacturers and influencers develop their social group and promote on to their high followers. By means of its browser extension, customers can earn rewards from main manufacturers.

Right now, Trufan introduced it has raised an extra $2 Million in seed funding to speed up its new browser extension, Surf. Backers for the seed fund embody Moneta Ventures, Magic Fund, Hootsuite founder Ryan Holmes, common creator Cody Ko, Cameo co-founder Devon Townsend, and Shaw Communications CEO Brad Shaw. This spherical is an extension of the corporate’s latest seed spherical, which came about in January 2021, highlighting Trufan’s fast development and help throughout the market. This brings the whole quantity Trufan has raised to $6.3M CAD.

Co-founded in 2017 by CEO Swish Goswami, Trufan helps manufacturers develop and perceive their viewers whereas producing first-party knowledge in order that they’ll activate their viewers each time and wherever they need. Trufan additionally homes the world’s largest social database with over 10 million viewers studies and over 2.4 billion social profiles.

The Surf browser extension, which launched on September 20, permits customers to passively earn factors for his or her on a regular basis looking, after which redeem these factors for gadgets and reward playing cards within the intensive Surf market, together with manufacturers starting from Airbnb and Lululemon to Complete Meals and Sephora. Upon launch, the product was named Product Hunt’s Product of the Day and since then, has had over 10,000 individuals join and over 250 five-star opinions on the Chrome Extension Retailer.

In contrast to the large tech firms, Surf permits them to take management of the info that’s shared – the extension offers customers with an exercise log that enables them to see every bit of information they’ve shared. Customers can edit and handle the info they share at any time.

“I’m very excited to put money into Trufan. The administration crew is constructed of people that perceive each what shoppers and types need. Trufan is constructing the way forward for shopper knowledge and the very best half: they’re doing it proper right here in Canada” stated Brad Shaw, CEO of Shaw Communications.

“Trufan’s imaginative and prescient is to change into the main supplier of excessive constancy knowledge to manufacturers whereas redefining the position of shoppers within the knowledge financial system,” defined Trufan CEO, Swish Goswami. “From our analysis, we perceive that many shoppers are high-quality with sharing their knowledge if there’s something in it for them – and that’s what we’re aiming for with Surf. Our browser extension modernizes knowledge retrieval for manufacturers whereas granting customers a fairer and extra rewarding web expertise. This has change into an excellent larger deal because the world shifts away from cookies and high social platform monitoring, elevating the significance of first-party knowledge.” | Toronto tech startup Trufan luggage $2M seed funding to develop its browser extension that lets shoppers earn rewards and cash for sharing knowledge | Tech Information


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