Trufan Raises $2 mln In Seed Funding to Reward Internet Users

Trufan, a marketing startup based in Ontario, has raised an additional $2 million in seed funding to expand Surf, a browser extension that rewards its users for surfing the web.

Investors like Moneta Ventures, Magic Fund, Hootsuite founder Ryan Holmes, popular creator Cody Ko, Cameo co-founder Devon Townsend, and Shaw Communications CEO Brad Shaw, participated in the round. This brings the total funding raised by the startup to about $5 million. Sabya Das, Partner at Moneta Ventures, referred to the round by stating:

“I’m glad to have the opportunity to invest in Trufan once again in this round of funding, as they bring their newest product Surf to market. Swish, Aanikh, and the Trufan team continue to build tools and products that enable the future of first party data for brands and consumers, in transparent and innovative ways. The Moneta Ventures team has been consistently impressed with the execution and vision of the leadership at Trufan and we are especially excited about the rapid growth of Surf.”

Trufan was founded with the mission to help brands and influencers grow their audience, allowing them to sell directly to their fans. The startup achieves this by collecting data from potential and existing customers, allowing businesses to improve their marketing strategies while users share part of the profits. Swish Goswami, Trufan CEO, said about this mission:

“Trufan’s vision is to become the leading provider of high fidelity data to brands while redefining the role of consumers in the data economy. From our research, we understand that many consumers are fine with sharing their data if there is something in it for them – and that’s what we’re aiming for with Surf. Our browser extension modernizes data retrieval for brands, while granting users a fairer and more rewarding internet experience. This has become an even bigger deal as the world shifts away from cookies and top social platform tracking, raising the importance of first party data.”

Whereas traditional marketing companies make billions from data collection without rewarding those who provide it. Trufan is allowing its users to benefit from the multimarket they allow to exist, creating a new economy in which anyone can generate profit from sharing their data. The startup believes that being transparent about its practices and giving back to its users, it can change how data recollection works on today’s internet.