Advertising ‘artificial intelligence’ start-up Adbrain raises $7.5m
Octopus Investments leads backing of fast-growing tech business
A start-up that allows companies to create targeted online ad campaigns across multiple devices has completed a $7.5m Series A funding round, led by tech-focused venture capital firm Octopus Investments.
Launched in February 2014 by Gareth Davies, Adbrain claims its advertising technology is the first in the world that can allow agencies to build up a single customer profile across multiple devices, including PCs, tablets and smartphones.
The London-based start-up says its offering recognises the reality of modern audience targeting, in which the same consumer will regularly access the internet across a number of different devices.
Since launch the platform has amassed a portfolio of leading clients in the advertising and marketing industries, including M&C Saatchi Mobile, The Exchange Lab, Annalect (part of Omnicom Media Group), Fetch and Somo.
The $7.5m funding, which was led by Octopus Investments with additional participation from existing investor Notion Capital, will be used to ‘turbo-charge’ Adbrain’s expansion into the US and Europe, as well as funding new hires in its engineering, big data and artificial intelligence departments.
Gareth Davies, founder and CEO of Adbrain, said in a statement: “Adbrain has won the backing of investors and advertisers by creating a truly transparent advertising platform in an industry accustomed to black-box and managed-service solutions.
“By effectively responding to consumers’ new multi-screen habits and the rapid spread of connected devices, we are defining the future of advertising. This funding will further establish our authority in the space both in Europe and the USA.
“In particular, it’s an honour to be welcomed into the Octopus ‘club’ and join a number of incredibly innovative and game-changing companies who are busy changing the face of their respective industries.”
Frederic Lardieg of Octopus Ventures added: “Adbrain represents an exciting opportunity in the booming mobile sector. The ad-technology space is a multi-billion dollar market and continues to experience significant growth.
“Combine this with the highly motivated and impressive team behind Adbrain and it is clear that this is a company that is set to make waves. We look forward to supporting Gareth and his team, particularly through introducing them to top tier talent, as Adbrain grows over the coming months.”