Covatic secures £4m Series A funding led by Praetura Ventures
The privacy-first ad tech company has raised £4m to scale its audience segmentation platform and expand globally.
Covatic develops privacy-first audience targeting technology that enables brands to understand consumers without extracting personal data. The certified B Corp operates from Birmingham.
Covatic has secured £4m in a Series A funding round led by Praetura Ventures, with participation from Creative UK's Creative Growth Fund and Comcast. The Birmingham-based business develops privacy-first audience targeting technology designed to let brands reach consumers without exposing personal information. The capital will be directed towards enhancing the platform and expanding its footprint within the global advertising and media sectors.
The raise follows Covatic's participation in the Comcast NBCUniversal LIFT Labs Accelerator in 2020 and forms part of the company's broader push to scale its operations. Executive leadership noted that the fresh funds will support ongoing platform improvements as consumer privacy regulations continue to shape the media ecosystem.
Investor perspective
"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."
Peter Carway
Investment Director, Praetura Ventures
Use of funds
- 01Continue product development
- 02Expand into international markets
