UK audience technology business, Affectv, has filled its boots with £2 million of fresh sterling from Octopus, the same venture capitalist that saw the potential in both Zoopla and Secret Escapes.
Affectv has wasted little time in pinpointing the areas of the company requiring an influx of cash. Growing demand from Europe and Asia has meant that sales, engineering and operations teams need to be bolstered.
Prior to Octopus’ involvement, Affectv has relied on its own income to develop the brand, according to Glen Calvert, the company’s founder and chief executive, who has also stated he is now ready to roll out the technology to more parts of the world.
“We’ve experienced 100% organic revenue growth each quarter since inception,” Calvert said. “Our first round of funding will enable us to accelerate our product roadmap and expand into other markets.”
Developing a Persona
The Persona technology used by Affectv is said to have the ability to give legacy ad networks and demand-side platforms a real run for their money. It maps over three billion interactions a month in more than 50 major social networks, sharing platforms and data products.
Frederic Lardieg, a member of the ventures team at Octopus, revealed it was both Affectv’s current product and future technology implementations that made it such an attractive prospect.
“The technology enables companies to develop a sophisticated advertising campaign that can target and access potential new customers based on their social interactions online,” explained Lardieg. “This, coupled with the innovative products that Affectv currently has in its pipeline, makes it a really exciting opportunity.”