Adludio secures £2 million investment from Mercia
- East Midlands
Wishma
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- 9 minutes read
Adludio – the London-based company that offers a market-leading mobile advertising platform – has secured a further £2m investment from Mercia.
The latest funding round will enable it to capitalise on its rapid growth in the US and launch a new fully-automated version of its platform. Adludio delivers privacy-compliant mobile campaigns that offer interactive experiences to grab consumers’ attention. Powered by AI and data science, the platform is backed by top-tier creative services. Adludio has worked with brands including Ford, Land Rover Jaguar, Estée Lauder, Nike, Adidas and Microsoft.
Founded in 2015, the company now has a presence in five US cities – New York, Los Angeles, Chicago, Atlanta and Detroit – and also delivers services via resellers in Hong Kong and Singapore.
Following Mercia’s initial £4m investment in 2021, Adludio has continued to increase its revenues, in particular in the US where it achieved 50% growth in 2022. It has also boosted its management team with a number of leading industry figures. The new version of Adludio’s platform, which is due to be launched in 2024, will enable it to fully automate many of its processes and offer customers a software-as-a-service (SaaS) product to manage their own campaigns.
The latest funding round comes as the adtech industry contends with continued economic uncertainty, the introduction of stricter privacy rules in many countries as well as the declining use of cookies, and aims to help Adludio consolidate its position at the forefront of the market.
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.”
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.”
ENDS
Press contacts
Alison Dwyer
Head of Marketing & Communications
Mercia Asset Management PLC
+44 (0) 7464 480 137
Pauline Rawsterne
PR Agent
Turquoise PR
+44 (0) 161 860 6063
+44 (0) 780 163 9816
About Adludio
Adludio is an AI-driven technology company that delivers premium mobile advertising.
As the primary means of consuming content, mobile needs to deliver interactive experiences to engage audiences, but the majority of mobile advertising remains static.
Combining data-driven creativity, proprietary technology and automation with pioneering engagement metrics, Adludio delivers privacy-compliant mobile campaigns with engagement at its heart.
With offices in London, Los Angeles, New York, Atlanta, Detroit and Chicago , Adludio is defining the next generation of mobile brand solutions in North America and EMEA.
About Mercia Asset Management PLC
Mercia is a proactive venture capital investor that aims to be a start-up’s first-choice partner for growth. Mercia currently has c. £1.4 billion of assets under management and, since its IPO in December 2014, has invested in a portfolio of over 400 start-ups from pre-seed to Series B and beyond. Mercia makes initial equity investments of between £500k and £10 million across all sectors, and has an active investment thesis supporting the growth of the UK’s SpaceTech industry. The firm has nine offices in the UK and over 60 in its investment team, all drawing on their experiences as founders, PhD scientists, software engineers, corporate financiers and management consultants to help our partner companies successfully achieve their ambitions.
Mercia’s venture funds sit alongside the Mercia Group’s wider private equity, debt and proprietary balance sheet capital, in order to provide a ‘Complete Connected Capital’ solution for our portfolio. Mercia Asset Management PLC is quoted on AIM with the epic “MERC”.
