The London-based marketing technology platform has raised Series A funding from Fog City Capital to fuel its expansion into the United States.
"We were blown away by Ad-Lib’s technology and the rapid traction they are getting with large brands for whom the seamless integration of the creative and media buying processes in their advertising is a major pain point. We’re delighted to back Oli and his incredible team of creative and mar-tech experts in their ambitious plans to further disrupt this space."
The investment round was led by FoundersX with participation from Founders Factory, Y Combinator, and Plug and Play Ventures.
"This is a massive achievement for us. When we came to market 2 years ago we were probably the only technology company talking about fairness and diversity. Fairness has been our core purpose from day one, it’s in our DNA, and we are so grateful to our investors and clients who saw how important our message was. For me this represents an investment in diversity, not just our company. This latest round will allow us to grow our capability in our core markets, levelling the playing field and breaking the cycle of exclusion that still chronically prevalent in the world of work. It is also a huge vote of confidence in the team who have worked so hard over the past 2 years to bring our purpose to life."
The funding round was led by Downing Ventures and Gresham House Ventures to accelerate the rollout of white label lending solutions for banks.
"We are delighted that Downing and Gresham House have joined us on our exciting journey to help reshape a sector that is rapidly adopting digital solutions using new data sources to enable the delivery of seamless, instant access to finance. This is creating the opportunity to provide small businesses with the same transparency and ease of access to finance that consumers have become accustomed to."
The £2m injection brings Adarga's total Series A fundraising to £7m following previous backing led by Allectus Capital.
"We are pleased to be investing in Adarga and look forward to supporting the Adarga team as it continues to build out its software products adarga_engine™ and adarga_bench™."
