Young Gun-founded PowerLinks raises £5.48m Series A and hires new chairman
Manchester-based, but looking to expand to the US, the adtech start-up's software platform automates the buying and selling of native advertising
PowerLinks, a Manchester-based adtech start-up, has raised £5.48m worth of Series A finance and hired new a chairman.
Primarily backed by Foresight Group, with additional investment from angel investors and PowerLinks management, the Salford Quays-based business has announced serial adtech entrepreneur Alex Rahaman as its new chairman.
The founder of mobile programmatic platform StrikeAd, Rahaman is also CEO of NEXD, a creative technology business with offices in London and across Europe.
While previously, he led Unanimis, an independent ad network exited to France Telecom.
Founded by Young Guns Kevin Flood and Mike Harty, the adtech start-up's software platform automates the buying and selling of native advertising and will use the fresh funds to drive US expansion, with further recruitment plans in place across its sales, client services and technology teams.
Having recently expanded in Amsterdam and Berlin, the Northern start-up's marketplace has already surpassed 4,000 advertising campaigns from 140 connected advertisers, driving revenue growth of 100%+ year-on-year.
Alongside Rahaman's appointment, it has also signed up Mickey Christodoulides as finance director.
Previously the group financial controller for Unruly Media, he was heavily involved in the company’s £114m sale to News Corp, the publishing giant owned by Rupert Murdoch.
Kevin Flood, CEO of PowerLinks, said:
“PowerLinks is poised to drive exponential growth for our customers, by meeting the challenge of automating relevant, personalised advertising to busy consumers who are overwhelmed with choice. This investment will accelerate our expansion and innovation plans.
“We are delighted to have Foresight’s backing and shared vision. The Foresight team, together with the recent appointment of Alex and Mickey, will inject a wealth of experience in scaling transformative digital businesses”
Alex Rahaman, the new chairman of PowerLinks, said:
“Programmatic native advertising is at a tipping point and PowerLinks is extremely well placed to take advantage. I have been very impressed with Kevin and the team and how they have innovated in a competitive sector.
“It will be an honour to become chairman of this exciting company, and I look forward to it continuing to deliver on its strategy for growth”