Tech Pitch: Driftrock
Serial entrepreneur and founding partner of Forward Partners Matt Wheeler talks us through his latest venture...
Company name: Driftrock
Founders: Matt Wheeler
Background: Performance marketing and product for 10+ years
Based in: East London
Very simply, what does your tech start-up do?
Driftrock uses real-world data to help brands reach people with advertising at the perfect time. For example, running taxi ads when it’s raining, or sun glasses when it’s sunny. Other real-world triggers might include TV schedules, exchange rates or daylight hours.
Tell us why there’s a need – what do you disrupt?
In the world of mobile it’s no longer enough to reach the right people, you need to reach them at the perfect moment. Most adtech businesses focus on reaching the right audience, but we don’t think that’s enough. Some of our clients see conversion rates swing 40% with different weather conditions, so advertising at these peak times means it’s more effective, cheaper and drives brand consideration.
Are you funded?
Yes, we closed a seed round for $1m earlier this year.
What were you doing before starting?
I was the third employee at Forward Internet Group (formerly known as Traffic Broker), where I helped scale the business to 500 employees and over £100m in revenue. As a performance marketer and product guy, I’ve helped lots of businesses grow their customer base. These include several e-commerce businesses such as my previous start-up Omio.com and uSwitch.com.
What’s the best thing about where you’re based?
We’re a short walk from the heart of Old Street. Being part of a tech hub like that means we can replace phone calls for in-person meetings in the numerous cafes! Adding that human touch makes a huge difference, especially when selling or swapping ideas. It’s also a big pull for people looking to work in tech start-ups, there are endless fun places to eat a drink in the area.