Panoramic invests £1.2m in ‘search retargeting’ firm Captify
Investment will fund recruitment and international expansion for fast-growing digital marketing business
Equity investor Panoramic Growth Equity announced today that it has invested £1.2m growth capital into UK digital marketing company Captify.
Founded in 2011 by Dominic Joseph and Adam Ludwin, Captify is known for its pioneering emphasis on ‘search retargeting’ techniques, whereby users see relevant ads on websites they browse following a search engine query.
Captify is currently the only European marketing firm with an emphasis on search retargeting and claims its technology can assess the value of a customer based on a range of more than 150 variables.
Since inception the firm has seen 280% year-on-year growth, generating revenues in excess of £1m in the two years since launch.
Its clients include brands such as Warner Brothers, Sky, BMW and American Express.
The firm was also recently named in Lord Young and Sir Terry Leahy’s Accelerate 250 index – a list of the fastest-growing companies in the UK.
Panoramic’s investment will be used to back further rapid growth for the business as well as to expand its team with a view to expanding the service internationally.
It marks the sixth investment from Panoramic’s £34m Enterprise Capital Fund I, following May’s £1.8m investment in ‘archaeological travel’ company Andante Travels.
Dominic Joseph, co-founder and CEO of Captify, said: “We have come a long way since establishing Captify two years ago. In less than two years, we have managed to work with over 150 leading brands, built a fantastic team of almost 30 and experienced rapid growth.
“Captify has always been a profitable business and so have been able to self-fund to date. However, we have now reached a critical point where we feel ready to take the next step. This means accelerating growth in the UK and establishing our presence overseas. “We need capital to fund this but perhaps more importantly, we wanted to find an investor that can support and reinforce our rapid growth.
“Panoramic was one of a number of investors that we met and they stood out as the right partners to help us achieve our ambitions for the business. Not only are they business owners themselves, they have an established track record of growing smaller businesses into bigger, more profitable enterprises.”
Co-founder Adam Ludwin added: “Our space is exploding. The market is more evolved in the US, but the UK and Europe are catching up fast. As the leading Search Retargeting specialists in Europe we are at the forefront of technology innovation, and it’s an exciting challenge as a young British business to be entering the international playing field.”