Sophia secures £1.1m from the Angel CoFund to develop its AI advertising platform.
The Angel CoFund marks its first Northern Ireland investment by backing Sophia's advertising technology.
Sophia is an advertising technology business that has developed an artificial intelligence platform designed to counteract banner ad blindness.
Sophia has secured £1.1m in a funding round featuring backing from the Angel CoFund. The investment marks the fund's first deployment into Northern Ireland. Sophia's technology addresses banner ad blindness by deploying artificial intelligence to improve digital advertising performance for online brands and retailers.
Originally spun out from the University of Ulster and St. Petersburg State University, the company previously received seed support from Halo in 2010 and backing from Atlantic Bridge in 2012. The latest capital injection brings Sophia's total funding raised to date to £5.8m as the business expands its operations.
From the founder
"Our aim is to help online brands and retailers to connect with consumers in a relevant way and to tackle the growing issue of digital ad blindness; today’s consumers are much more empowered than ever before and brands need to find more effective ways to connect and bond with them online. Today’s investment is a great step forward for the business as we look to build upon the growth we have already experienced. We’re delighted to be working with the Angel CoFund and to be the fund’s first investment in Northern Ireland."
David Patterson
CEO at Sophia
Investor perspective
"At the Angel CoFund, we’re always on the lookout for innovative and interesting business ideas, and Sophia certainly ticks the boxes for us. It’s also important that we work to continue building links with angel communities across the country, so it’s a delight to be joining forces with Stephen Houston and Halo, as we make our first investment into Northern Ireland."
Tim Mills
Investment Director, Angel CoFund
