Adtech firm Captify secures £8m Series B investment
2014 Startups 100 number one company runs campaigns for leading global brands including Microsoft, BMW and SKY
Advertising technology company Captify has raised £8m Series B funding, led by Smedvig Capital, with follow on commitments from existing investors including Panoramic Growth Equity.
Founded in 2011 by Young Guns Dominic Joseph and Adam Ludwin, Captify uses search retargeting technology, monitoring search behaviours and targeting users with highly relevant advertising to increase conversion. The company’s global search data network consists of 550 million unique users and billions of searches.
Captify’s works with 88 UK media agencies and more than 100 in Europe, heading campaigns for some of the world’s most recognisable brands across several sectors – including Sony, Barclays, Volvo and British Airways.
The adtech firm claims it has increased its gross revenues by almost 300% in two years – expecting to achieve revenues of over £15m this year – and has grown its employee base from 11 to 65.
Following a £1.2m Series A in 2013, this latest finance will be used to consolidate Captify’s position in the UK, as well as strengthening its position in key European markets and to fuel international expansion. Spending on search and display advertising is expected to reach £145.5bn by 2016.
The company also plans to invest in product development, launching a mobile search product and video products to capitalise on markets that are currently valued at $18bn and $4bn respectively. The firm has opened offices in Hamburg and Kiev, with a third to open in Paris this summer.
Joseph, CEO, commented: “This £8m investment is a significant milestone for Captify as it will enable us to consolidate our position as the European market leader in search data driven advertising and analytics and put us on course to claim true global leadership.
“It is indicative of how the European ad tech space is flourishing and providing genuinely tough competition to established US rivals.”
Jon Lerner, principal at Smedvig Capital, said: “Captify is the clear European leader in a very exciting, disruptive and fast growing segment of advertising technology.
“The Captify team has built fantastic client relationships through proprietary technology, unique data, great performance and excellent customer service. There is a large global market opportunity here, and we are very much looking forward to working closely with Dom and Adam to further scale the business.”