The privacy-first ad tech company has raised £4m to scale its audience segmentation platform and expand globally.
"The technology behind Covatic is cutting edge and perfectly balances advertising effectiveness with data protection and security. The global customer base is also proof that the solution is pioneering in the field, highly scalable and effective, and we have nothing but admiration for the way Nick and the team have continued to interact and progress with global brands while negotiating the fundraise process. Above all, we’re really excited to be partnering with Covatic and looking forward to supporting the team."
The London based mobile advertising platform has picked up further backing from Mercia to support its international growth.
"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."
The Series A round was led by Smedvig Capital and will support technology development and international expansion.
"To have raised the largest Series A round in the digital ad fraud space to date is a strong validation of the fraud prevention platform we have developed and its success,"
Quaestus Capital Management led the Series A round to support international growth and sustainable ad technology.
"At the heart of our industry is an inherent value exchange between advertiser and consumer, and I’m on a mission to harness that value as a significant force for good. Through our respectful, positive ad platform, brands can treat people online as partners, rather than targets, united by a desire to have a meaningful social impact. Backing from industry experts like QCM and First Party Capital, social impact investors and, indeed, the general public, will help to supercharge our growth whilst keeping us true to our values at every step along the way."
The investment round was led by Quaestus Capital Management and will support international expansion and carbon reduction technology.
"At the heart of our industry is an inherent value exchange between advertiser and consumer, and I’m on a mission to harness that value as a significant force for good. Through our respectful, positive ad platform, brands can treat people online as partners — rather than targets — united by a desire to have a meaningful social impact. Backing from industry experts like QCM and FirstPartyCapital, social impact investors and, indeed, the general public, will help to supercharge our growth whilst keeping us true to our values at every step along the way."
