Digital marketing start-up Screach bags £1.13m
Finance will enable company to build on success in the pub sector and expand into new markets
Screach, an interactive broadcast technology company, has secured £1.13m in funding from existing investors Northstar Ventures and Hotspur Capital.
The deal also involved new investors Max Capital Partners, the Angel CoFund and a number of high net worth individuals.
Featured in our Tech Pitch channel, Newcastle-based Screach is a cloud-based sales and marketing tool that enables retail and leisure venues to broadcast their own television channels through their own screens, venue Wi-Fi and customers’ mobiles.
Showing anything from live sport to promotions, interactive content and third-party advertising – from which the venue takes a share – the company’s technology aims to increase its clients’ profitability.
Currently running on more than 3,000 screens in over 1,500 venues across the UK, the finance will enable Screach to build on its success in the pub market and target new high-potential markets.
In June 2015, the business announced a three-year agreement with BT Sport to provide an exclusive free service to subscribing pubs.
Robert Rawlinson, CEO at Screach, said: “We see great application for Screach’s dynamic, data-led, and content-focused approach to digital signage across the broader hospitality sector, as well as in retail – both in individual stores and in shopping centres.
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“Meanwhile, the ever-increasing popularity of ‘in-play’ betting on live sport creates interesting opportunities in gaming and gambling. This funding will also help us take on more opportunities outside the UK.”
Tim Mills, investment director at the Angel CoFund, commented: “The potential to take Screach’s tested platform and transfer its technology to other sectors, as well as the company’s longer-term plan to establish itself as a digital advertising network, made this a team and a company that we wanted to back.”