Adtech disruptor Playrcart raises £1 million as the company prepares for growth
Advertisement industry experts join the Playrcart team with International expansion on the cards for 2021
London, United Kingdom 4th August, 2021: Playrcart (www.playrcart.com), the company that makes advertising assets instantly transactional, today announces it has raised over £1 million in funding and added industry heavyweight Peter Scott as Chairman.
The UK based startup has created patent pending technology that enables transactions directly within an advertising asset. Born out of frustration with advertising assets that could only do so much or that redirected consumers on a long purchase journey via the brand owners websites, Founder & CEO Glen Dormieux and Richard Mason CTO developed Playrcart. Playrcart allows customers to instantly purchase products and services directly within rich media assets such as video and gifs, banner ads, as well as via live streams. With investment from an impressive list of private media savvy investors including Dominic Shorthouse and Clive Hollick alongside Playrcart’s leadership team, Dormieux plans to use the funding raised to expand internationally and accelerate technical developments.
Playrcart is truly taking traditional “shoppable video” to the next level with brands that are using Playrcart’s technology to significantly dilute the sales channel. Whether that’s buying an item featured in a video, booking a test drive, or buying a ticket to a concert, Playrcart’s patent-pending technology fast-tracks the purchase process. Playrcart does this by significantly reducing the amount of clicks it takes to arrive at checkout and offers an immediate purchase option when the customer’s emotional response to an ad is at its strongest – within the asset itself. Shoppable is now fully transactional.
Alongside the £1 million raised in funding, the company also welcomes Peter Scott as its Chairman. An industry heavyweight, Scott co-founded WCRS and became Chairman and CEO of Aegis, and later co-found and headed up The Engine Group, which saw revenues of £120m across three global offices.
“I am incredibly enthused about Playrcart,” says Scott. “What persuaded me to initially invest was the sheer size of the market opportunity, patentable tech and the absolute belief and commitment of Glen and Richard.” He adds: “We have a world class technology that’s opening up an entirely new sales channel for businesses. We’re in discussions with some very exciting brands, and our aim now is to make this a global application, and do so quickly.”
In an increasingly cookie-less world, brands and retailers will need their creative assets to work harder. Playrcart’s technology solves the problem by delivering a frictionless conversion funnel, turning any ad format, whether video, rich media, social media or live streaming, into a direct sales funnel.
“We’re thrilled to welcome Peter to the team and we’re incredibly encouraged by the backing we’ve received this year. We’ve come a long way in a short space of time, and someone of Peter’s expertise will be invaluable in the next leg of our growth,” comments Dormieux.
Oliver Leigh, Head of Biz Development, is another key member of Playrcart’s senior leadership team, alongside Scott, Mason and Dormieux.
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Playrcart is the company that enables customers to instantly purchase products and services directly within rich media such as video and gifs, banner ads, as well as via live streams. Its transactional ad format maintains the engagement experience derived from compelling content, while enabling a clear call to action, be that a ticketing purchase, buying an item or donating to charity. Brands that use Playrcart’s technology see their sales funnel diluted by 70% on average.
In 2017/18, Playrcart was selected from hundreds of start-ups to be part of Telefonica’s Global Wayra Program, with the tech giant investing in Playrcart and appointing them as a global supplier.
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