Publisher-focussed AdTech firm raises £14.6m for US growth
Posted on July 9, 2020 by Alistair Hardaker
Publisher-focussed data management platform Permutive has raised £14.6m ($18.5m) in Series B funding.
The company, which works with the likes of BuzzFeed, The Financial Times, The Guardian, and MailOnline reports tripled revenue growth last year.
The funding, Led by Octopus Ventures with participation from EQT Ventures and earlier investors, will be used for international expansion, as the company continues to grow market share in North America.
The firm is also making hires senior team hires, including the appointments of Aly Nurmohamed to General Manager Publishing, formerly Global MD, Publisher Partnerships at Criteo, and Steve Francolla as Head of Partnerships, formerly Head of Global Publisher Strategy at LiveRamp.
Founded in the UK by CEO Joe Root and CTO Tim Spratt, both Entrepreneur First and Y-Combinator alumni, Its first product is a SaaS data management platform.
The technology uses edge computing, processing user data on device rather than in the cloud, in response to changes in browser restrictions.
Browsers such as Firefox and Safari have excluded third-party cookies, and Google has announced its Chrome browser will go the same way in less than two years time.
The firm says their alternative tech is built for privacy, protecting publishers from any browser changes by not relying on the third-party cookie.
Root said of the funding: “We’re really excited to announce this new milestone, which will help us to continue the momentum of helping publishers to understand and monetize their audiences.
“Too many organizations are blind to the huge change the advertising industry is undergoing.
“Yet, in just the last few years legislators have introduced privacy measures such as GDPR and CCPA, which has changed the way businesses can sort, use and store data.