Adludio has secured a further £2 million investment from Mercia, following an initial investment of £4 million in 2021.
Adludio says that this new funding round will enable them to capitalise on its rapid growth in the US and launch a new fully-automated version of its platform. Powered by AI and data science, this will offer marketers a one-stop shop for the automated design and delivery of ad campaigns that guarantee engagement.
Paul Coggins, Adludio’s CEO, said: “At a time when privacy regulation is increasingly limiting the use of personal data, our sophisticated and unique combination of creative, media and AI is leading brand performance on mobile. With this additional investment from Mercia, the next stage of our AI-led platform, offering fully-automated capabilities, will provide brands and agencies the chance to translate user attention into profit.”
Founded in 2015, the company now has a presence across five US cities – New York, Los Angeles, Chicago, Atlanta and Detroit – and also delivers services via resellers in Hong Kong and Singapore.
In 2022, Adludio achieved 50% growth in the US and, across the globe, has continued to increase its revenues. It has also boosted its management team with a number of leading industry figures, including Ian Liddicoat as Chief Technology Officer and Dave Ramsay as Chief Product Officer. The new version of Adludio’s platform, due to be launched in 2024, will fully automate many of its processes and offer customers a software-as-a-service (SaaS) product to manage their own campaigns.
Mercia was investing from its Northern Venture Capital Trust (VCT) Funds. Martijn Kleibergen of Mercia said: “With stricter privacy rules, relying on ‘cookies’ to deliver targeted advertising is no longer a viable option. Adludio combines strong creative campaigns with algorithms that optimise campaigns in real-time to engage consumers without using personal data. This investment will enable it to continue its growth in the US and expand its client base with the launch of its new self-service platform.”
Adludio is a client of Bluestripe Communications, part of The Bluestripe Group, Publishers of NDA