Investment firm Enterprise Ventures has backed Lancaster-based Azullo through Lancashire’s Rosebud Fund, which it manages.

The six-figure funding injection has been made so that Azullo can continue to develop the market for its Respond advertising platform, which helps with the effectiveness of ad campaigns.

The contribution from Enterprise Ventures is the third time that Azullo has taken on equity support. In September 2011, The North West Fund for Digital & Creative joined angel investor Joel Rosenblatt as the company’s first backers.

An undisclosed Series B transaction in March 2012 saw the Digital & Creative fund and Joel Rosenblatt joined by John Lyon and Chris Frost.

Founded by Guy Cookson and Andrew Dobson in 2009, Azullo’s Respond service has been taken up by publishers including the New Statesman.

Paul Taberner, investment director at Enterprise Ventures, comments, ‘Major online publishers are looking for ways to increase their advertising revenue whilst recognising that the readers are becoming more discerning in the way they view online content.

‘Respond helps them do this and offers a better advertising solution for all concerned – for publishers, advertisers and for consumers who are tired of having their browsing interrupted by intrusive adverts.’

The Rosebud fund, which is backing Azullo, is a finance package supporting Lancashire businesses and is managed by Enterprise Ventures on behalf of Lancashire County Developments, which is the county council’s economic development company.

More on Rosebud investments:

• Business set up by former High Sheriff of Lancashire pulls in £750,000
• Recruitment firm used by The Savoy and The Ritz gets venture capital support

Speaking to GrowthBusiness back in 2012, Cookson said that having successfully secured funding twice, he found that third party validation is the single most important element for getting capital.

‘What we did at the first opportunity with Respond is to take our idea on the road to ask for some honest feedback from potential customers.

‘This was invaluable in testing our assumptions, ensuring we had a product that would have market appeal.’