UK-based advertising technology startup Captify has secured $12.6 million in Series B round of funding led by Smedvig Capital with follow on commitments from existing investors that includes Panoramic Growth Equity.
Founded in 2011 by Young Guns Dominic Joseph and Adam Ludwin, the startup Captify makes use of search retargeting technology, monitoring search behaviors and targeting users with highly related advertising to increase the conversion. The startup’s technology help brands target their advertising campaigns more effectively and help them earn more out of it. The startup’s global search data networks consists of 550 million unique users and billions of searches. Currently, it works with around 90 media agencies in the UK and more than 100 in Europe. Its clientele includes Microsoft, British Airways, Barclays, Warner Brother, SKY, BMW, Hilton and American Express. The startup opened offices in Hamburg and Kiev and recently opened its Paris office this summer. It is expected to generate revenue of more than $23 million this year.
In 2013, Captify secured a $2 million in Series A investment from Panoramic Growth Equity in 2013 and from them it has increased its gross revenue by around 300% and its employee base from 11 to 65. Following the Series A, this new fund-raising would enable Captify to invest in its search intelligence technology, widen its product suite and boost international expansion. Amount spent on search and display advertising is expected to reach around $230 billion in 2016.
Dominic Joseph, co-founder and CEO of Captify said, “This $12.6 investment is a significant milestone of Captify as it will enable us to consolidate our position as the European market leader in search data driven advertising and analytics and put us on course to claim true global leadership.” He also added, “It is indicative of how the European ad tech space is flourishing and providing genuinely tough competition to established US rivals.”
Jon Lerner, principal of Smedvig Capital said, “Captify is the clear European leader in a very exciting, disruptive and fast growing segment of advertising technology. The team has built fantastic client relationships through proprietary technology, unique data, great performance and excellent customer service.”He also added, “There is a large global market opportunity here, and we are very much looking forward to working closely with Dom and Adam (co-founder) to further scale the business.”