Business
Specificity Announces $5M Capital Raise in Partnership with Qubit Capital
Specificity Announces $5M Capital Raise in Partnership with Qubit Capital.
About this update from Specificity, Inc.
[{"type":"text","content":"TAMPA, FL / ACCESSWIRE / March 11, 2024 / Specificity (OTCQB:SPTY) a trailblazing digital marketing agency specializing in audience identification, announces the launch of a $5 million seed round in collaboration with Qubit Capital, a leading venture capital firm. Specificity aims to aggressively take to market its industry disrupting tech stack of tools that solve three of the industry's largest challenges representing billions of dollars in wasted ad spend annually. These challenges are widely understood by industry leaders and until now, have been unsuccessfully addressed.This strategic partnership also aims to accelerate the development and deployment of Specificity's groundbreaking AI-driven audience identification solution that will drive even greater efficiency for marketers seeking to maximize the ROI of their ad campaigns."The entire industry knows that bot traffic, mechanical MAIDs and inaccurate audience data has plagued ad serving platforms for years and the iOS update 14.5 further exasperated an already wasteful approach", Jason Wood, CEO of Specificity said, "And now facing the cessation of enhanced CPC and the start of cookie deprecation from Google, we don't have the need to educate marketers and brand managers on the issue because they see it every day and we all know it's only going to get worse. Add to that the fact that we all face a new challenge, the move to a 1st party data world."Specificity's solution utilizes the only accessible 1st party data graph in existence. Other 1st party data graphs are owned by Big Tech and they either monetize on the waste or sell the data in a very cost prohibitive "cost per lead" model.Wood went on to say, "In a world where 1st party data is crucial, sharing the data with our clients allows their teams to pull smarter levers and drive far better insights and quite frankly, the difference between us and others in this space is that we see those insights as work product owned by the client paying to create them with us and not a mechanism for monetization with competing brands." AI algorithms have yet to infuse this complexity of data understanding in the audience ID arena and doing so will give Specificity and its clients a huge competitive advantage.Wood commented on the significance of the seed round, stating, "We wanted to ensur...