UK-based digital advertising technology company Grapeshot has raised $3.3m, led by VC firm Albion Ventures.
As part of the deal Albion partner Robert Whitby-Smith will join the Grapeshot board of directors. Existing investors IQ Capital, a Cambridge and London-based venture capital fund, and current Grapeshot chairman Tim Schoonmaker also supported the new round.
Whitby-Smith said, “Grapeshot offers the most compelling solution to a key concern for brands moving to real-time bidding…how do I know my online ads are not in the wrong place? A premium automotive brand does not want to advertise next to an article about a crash. Beyond brand protection, Grapeshot’s data analytics enable advertisers to optimize context to boost sales and reduce cost per acquisition.
“In addition to the strength of the value proposition, we were attracted to the rapid customer traction, the proven platform scalability and the visionary reputation of the team. Grapeshot has all the facets of a highly focused enterprise poised for success”.
The investment will help the company continue to provide contextual data analytics to advertisers and publishers in the real-time-bidding (RTB) programmatic marketplace.
The additional investment will facilitate Grapeshot, whose technology is rooted in information retrieval techniques developed and refined at Cambridge University in the UK, in its efforts to integrate its keyword contextual technology and services into more platforms and exchanges on a global basis, the company said.
Albion Ventures was founded in 1996 is based in London and manages approximately £250m of evergreen listed venture capital funds and has investments in approximately 80 businesses.
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