Scoota raises £2m in growth funding round
Investment from Notion Capital, Angel CoFund, Venture Founders and angels will be used for US expansion by digital branding company
London, 6 May, 2020 – Scoota, the leader in automated omni-channel digital branding technology, has announced a £2m round from Notion Capital, the Angel CoFund (ACF) and VentureFounders. The growth funding will be used for rapid US expansion plans for the latter part of 2020 and early 2021.
In the current climate this raise speaks to the strength of Scoota’s business model and technology, offering its clients a completely new approach to fraud-free, automated omni-channel digital branding, all through one single platform. The company, which is based in London and New York, is rapidly increasing its direct-client base alongside its swift expansion into the US market.
James Booth, Founder & CEO of Scoota said: “Many years ago we set out to build a platform that would empower programmatic digital trading with levels of creativity not otherwise seen, while baking in as automated features, optimum solutions for real-time fraud management. It has taken a long time but we are truly excited to now be in market with what many say is a game-changing offering. Being able to close a round at this particular time is a testament to that technology offering and the belief shown by existing and new investors alike. I am also thrilled to welcome the Angel CoFund to the business.”
Scoota’s patent-pending Sentinel technology solves numerous legacy challenges associated with delivering multimedia content at scale via programmatic channels, and automates management of fraud in real time.
Scoota’s technology has already delivered campaigns for over 500 tier-1 brands, including: Ford, Coca Cola, Microsoft, Unilever, and P&G.
Tim Mills, Managing Director at the Angel CoFund, said: “Omni-channel marketing has been a growth market over the past few years but Scoota has done especially well by identifying a gap in the market and creating its own technology for multimedia digital marketing. Its technology has allowed it to capture market share and grow, even under these difficult market conditions, and it is exciting to see the company take this funding to expand into the US, which has already proved to be fertile ground for the business.”
Ian Milbourn, General Partner & CFO at Notion Capital, comments: “I’m really pleased to see James complete this finding. Scoota is incredibly well placed to continue growing revenues once trading returns to near normal levels. The team have worked tirelessly to come through the last couple of months and I look forward to a strong year.”
James Codling, Co-Founder of Venture Founders, comments: Scoota’s market-leading platform is revolutionising multimedia digital marketing and enabling brands to unify their marketing messages across a range of channels. Having backed Scoota since 2015, we’re delighted that securing this funding will allow them to further grow market share and drive international expansion.
Scoota is the leader in Automated Digital Branding. Our next-generation full-stack platform has been built with truly expressive creativity at its heart, yet introduces new approaches to automated distribution, brand safety and transparency, removing the worry from online advertising, opening up incredible opportunities from OOH, mobile, desktop and beyond.
About Notion Capital
We are SaaS entrepreneurs and operators turned investors, investing in what we know and love: European SaaS and enterprise tech.
Our vision is to be the VC we never had, creating the conditions for extraordinary success for our portfolio and the wider ecosystem.
Founded in 2009, we have now made more than 60 investments and are committed to supporting our founders every step of the way on their extraordinary journeys.
About the Angel CoFund
Launched in 2011, the Angel CoFund (ACF) is a privately managed and commercially focused institution that works alongside groups of business angels to invest in high potential SMEs across the UK, directly providing funding as well as encouraging the expansion and development of the business angel market.
To date the ACF has supported 80 companies (for example Ebury, Gousto, Crowd Vision and Hopster) providing more than £40 million in direct investment alongside more than £200m from business angels and other investors, making it one of the most active early stage investors in the country.
The ACF is a long-term investor and, in aggregate, sets aside £1 of further capital for every £1 it invests. This model gives portfolio companies and co-investors the support they need to propel strong growth.
To find out more, please visit www.angelcofund.co.uk.
About Venture Founders
VentureFounders is a Venture Capital platform for HNW, UHNW and Family offices to access B2B and B2B2C scale-up technology businesses. Since 2014, we have made primary investments in to some of the UK’s leading tech success stories.
With a solid foundation in financial services expertise, the VentureFounders team is comprised of FCA approved, highly skilled investment professionals with extensive private equity, investment management and business growth experience.
If you are interested in becoming a member or are a business seeking investment, please get in touch – [email protected]