Affectv has closed its first institutional funding round and will now begin building its team to over 100 people around the world.
The £2 million Series A round sees venture capital firm Octopus Investments step in as backer and add Affectv to a portfolio which already includes businesses such as autobiography business LifeBook and holiday discount site Secret Escapes.
London-based Affectv, set up in 2011, has built a technology which allows users to understand how people interact with brands, content and each other online. According to the business, this provides advertisers with a way to make bespoke marketing campaigns that offer a higher return on investment.
Affectv founder and CEO Glen Calvert says that the business has been successful in achieving 100 per cent organic revenue growth each quarter since it was founded.
‘Our first round of funding will enable us to accelerate our roadmap and expand into other markets,’ he adds.
‘We live in a world where digital interaction between people has become ubiquitous and as such, the digital ad market and relationship between advertisers, publishers and consumers will evolve. Affectv is leading this change with our proprietary targeting technology, Persona, which enables companies to market to prospective customers that exhibit the most relevant signals for a brand.’
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With £2 million of venture capital now in the bank, Affectv will be increasing its sales, engineering and operations teams to meet what it describes as a ‘growing demand’ from Europe and Asia.
Recently, Affectv was included in the Accelerate 250 list of entrepreneurial companies – all of which are said to be creating over half of all new UK jobs.
Frederic Lardieg, member of the ventures team at Octopus, comments, ‘The team is impressive and has already proven the value of their technology in its ability to change the way companies approach online advertising.
‘This, coupled with the innovative products that Affectv currently has in its pipeline, makes it a really exciting opportunity.’