All Funding Startup News in Korea (Korean Startup News)

AdShield Raises KRW 2.7B for Ad Block Recovery, Eyes Global Expansion

2024-02-19 2 min read


AdShield Raises KRW 2.7B for Ad Block Recovery, Eyes Global Expansion

Reading Time: 2 minutes

The South Korean startup AdShield, which offers a solution for recouping losses incurred from ad blocking, has raised a pre-Series A investment of KRW 2.7 billion. This round of funding includes new investors such as Shorooq Partners, along with existing investors Bass Investment and Hashed, bringing the total accumulated investment to KRW 4.3 billion to date.

AdShield is a startup that is developing a next-generation system for recovering ads blocked by users. Utilizing its proprietary technology, the company assists publishers in regenerating revenue that was lost due to ad blocking.

Globally, more than 30% of users employ ad-blocking programs, resulting in significant revenue losses for publishers annually. Since launching its solution last year, AdShield has been restoring over 1 billion ads per month, both domestically and internationally, achieving a monthly growth rate of 30%.

AdShield intends to use the newly acquired funds to recruit talent and expand into global markets. The company aims to establish itself as a leading ad tech firm by securing significant achievements on a global scale, as it rapidly gains overseas clients.

Sinyunho, CEO of Bass Investment, expressed, “We are greatly aligned with AdShield’s mission to foster a healthy and sustainable advertising-supported web ecosystem, and we are also impressed by the positive feedback from esteemed clients.” Kim Seojun, CEO of Hashed, remarked, “We anticipate that AdShield’s sophisticated ad block loss recovery solution will rapidly grow through partnerships with digital media platforms in the global market.” Shinyugeun, CEO of Shorooq Partners, explained the rationale behind the investment, stating, “We expect to open up a new market by monetizing traffic from ad blocks using innovative technology.”

Yu Juwon, CEO of AdShield, said, “Supporting many media companies that face operational difficulties due to declining ad revenue and rising costs is profoundly meaningful to us. Our objective is to further develop AdShield’s core technology and commercialize it in the global market.”

[Korean Adtech Startup News]

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