Adludio, the global AI-powered platform delivering attention-led and data-driven mobile advertising, has secured a further £2 million investment from Mercia, following an initial investment of £4 million in 2021.
This new funding round will enable Adludio to capitalize on its rapid growth in the US and launch a new fully-automated version of its platform. Powered by AI and data science, this will offer marketers a one-stop-shop for the automated design and delivery of ad campaigns that guarantee engagement.
Having produced advanced mobile creative for major brands including Ford, Land Rover Jaguar, Estée Lauder, Nike, Adidas and Microsoft, the announcement will see Adludio help even more marketers win the battle for brand attention. Currently sharing its expertise and technology with the IAB to develop this field, Adludio is redefining attention as a metric for success.
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.”
Founded in 2015, the company now has a presence across five US cities – New York, Los Angeles, Chicago, Atlanta and Detroit – and also delivers services via resellers in Hong Kong and Singapore.
In 2022, Adludio achieved 50% growth in the US and, across the globe, has continued to increase its revenues. It has also boosted its management team with a number of leading industry figures, including Ian Liddicoat as Chief Technology Officer and Dave Ramsay as Chief Product Officer. The new version of Adludio’s platform, due to be launched in 2024, will fully automate many of its processes and offer customers a software-as-a-service (SaaS) product to manage their own campaigns.
This latest investment 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.
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 optimize 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.”
