The digital advertising technology company secured the capital from co-leads IQ Capital and Draper Esprit alongside existing backers.
"We are delighted to have been able to work again with Grapeshot on this latest fundraising which will be vital to enable it to accelerate its business growth and scale up and to continue its global expansion. With brands and businesses seeking ever increasingly sophisticated methods of targeting, engaging with and defending their customer bases, Grapeshot is ideally positioned to become a global leader in this busy and thriving sector."
The UK start-up has also appointed former Dyson CEO Martin McCourt as chairman.
"This injection of capital will allow us to realise our expansion plans and we are thrilled to appoint McCourt as chairman. He has been a fantastic supporter of the business and brings considerable leadership skills to the table."
The Belfast start-up raised the capital largely through the Halo business angel network to prepare for its summer product launch.
"If you want to measure the height of a person – or indeed, a horse, wardrobe, door or any number of everyday things – how would you do that? Astonishingly, although it is 2016 and we are surrounded by sophisticated hand-held measurement devices, the only readily available tools for measuring the height of everyday things are sticks and tapes – ‘technologies’ that were invented thousands of years ago."
The funding round features participation from a syndicate of backers including Salesforce Ventures and Technology Crossover Ventures.
"In our last financial year, we grew our international new business by more than 500%, and with our world-class technology and relentless commitment driving innovation, market position and momentum, coupled with a multi-billion dollar opportunity, we look forward to continuing our impressive growth trajectory while helping our global customer base grow their businesses with improved efficiency and greater customer advocacy."
Midven led the investment round with backing from existing private investors to support new product development.
"We have a good business employing some very talented software developers, who really know how to produce online training tools that replicate real world business situations. We have just released an exciting new leadership skills training game which is generating some great reviews from both training providers and business users and now with this additional money we can continue with our next training modules"
