NumberEight uses on-device AI to enable advertisers to reach their target audiences without using personally identifiable information (PII)

London, UK — 11 January 2024 — NumberEight, a London-based startup using on-device AI to deliver ‘privacy-first’ identity solutions for the advertising industry, has raised £2.1 million ($2.7 million) in Pre-Series A funding led by ACF Investors. The investment will be used to drive commercial growth, bolster product development, and expedite US expansion following significant inbound market interest. 

The $615 billion advertising industry, grappling with stringent privacy regulations and an over-dependence on PII for ad personalisation, faces an existential challenge, placing the entire open internet at risk. Computing is also undergoing a paradigm shift as smarter devices push more and more computation on-device (the Edge), paving the way for incredibly high-margin business models. Lastly, the age of automation is truly upon us with the widespread adoption of AI and large language models (LLMs).

Amidst a global climate ripe for privacy-first solutions, NumberEight is uniquely positioned to leapfrog market incumbents. At the core is its pioneering on-device AI. The technology astutely detects real user behaviors, crafting precise user segments. Advertisers, in turn, can deliver razor-sharp, relevant ads, all while bypassing the need for traditional cookies or IDs — a true game-changer in enabling personalisation while ensuring user privacy.

This round includes investment from early backers Nauta Capital, Ascension Ventures, and Enterprise 100 angels, new groups such as COREangels EnterpriseTech, COREangels Big Data & AI Europe, and strategic angels – including mobile gaming veterans such as John Libby and Nick Button-Brown, and seasoned adtech mavens such as Ionut Ciobotaru.

The latest investment comes after a period of sustained growth and significant market interest. The company already operates globally with audio, gaming, and advertising customers, including the likes of Southern Cross Austereo (SCA), Adverty, and AdInMo.

Abhishek Sen, CEO and co-founder of NumberEight said:

 “Against the current zeitgeist of increasing privacy regulations and data restrictions by platforms, there is an urgent need for innovative solutions that empower advertisers without compromising user privacy. This investment is a testament to our foresight in on-device AI and privacy-focused technologies, setting the stage for our global product and commercial expansion plans.”

Tim Mills, Managing Partner, ACF Investors: 

“Governments around the world are enacting stricter privacy regulations, making it more difficult for advertisers to collect and use user data without their consent. NumberEight’s innovative approach to identity and privacy has the potential to make a significant impact in the industry, by addressing the challenges facing advertisers and consumers alike. We are delighted to be a part of this remarkable journey.” 

About NumberEight www.numbereight.ai. 

NumberEight is a pioneering behavioral intelligence company that has reimagined identity without the use of identifiers. Their innovative on-device AI solutions empower publishers and ad platforms to enrich ads with intelligent, ID-less, and anonymized data. This enables advertisers to reach their target audiences effectively and in a future-proof and privacy-first manner.

About ACF Investors www.acfinvestors.com

Launched in 2011, ACF Investors (formerly the Angel CoFund) is a privately managed and commercially focused venture capital fund that works alongside sector smart business angels to invest in high-potential SMEs across the UK, directly providing funding to support exceptional businesses.

To date, ACF Investors has supported 116 companies, including such names as Ebury, Gousto, Creo Medical, and Form3, providing more than £75 million in direct investment alongside more than £450 million from business angels and other investors, making it one of the most active early-stage investors in the country.