An advertising business based in London has been backed by investment firm Beringea to expand its UK operations.
InSkin Media, which operates in the advertising technology and digital media market, has wrapped up a £2 million funding deal with Beringea.
The business will now use the capital raised grow in the UK, develop additional technology formats such as mobile and build on its international opportunities which has already seen it recently open an office in Hamburg.
As a business, InSkin Media has developed a number of online advertising formats which are used by companies such as The Telegraph, VideoJug and Channel 4.
Its InSkin Video service is an interactive online display ad format that wraps around video. Visible for the entire viewing experience, it reportedly maximises brand exposure and drives click-through rates.
Having been founded in 2009, the business has grown to 36 staff across its headquarters in London and offices in Hamburg and Stockholm.
Trevor Hope, chief investment officer at Beringea, comments, ‘We have a strong track record of investment in the media sector, and are keen to back small, private, UK-based media companies such as InSkin Media.’
The deal for Beringea is its second of October following the £1 million it injected into software business Celebrus Technologies.
InSkin Media CEO Hugo Drayton, formerly manging director at Telegrpah Media Group, says that Hope is the ideal partner for the business as it looks to become more international.
‘We are excited to be collaborating with Beringea, whose successful history and knowledge of digital media will complement InSkin Media’s strengths,’ he adds.
Beringea is an international venture capital firm with offices in London and Michigan, US. Its London office invests between £1 million and £4 million in high growth companies. Beringea manages a number of funds, including the ProVen VCTs.