Permutive, a London, and NYC-based publisher-focused data management platform, raised $18.5m in Series B funding.
The round was led by Octopus Ventures with participation from EQT Ventures and earlier investors.
The company, which works with global publishers, intends to use the funds for international expansion, and growth in North America.
Founded in the UK by Joe Root (CEO) and Tim Spratt (CTO), both Entrepreneur First and Y-Combinator alumni, Permutive provides a SaaS data management platform that allows publishers to increase their targetable advertising and deliver ROI. By using edge computing and processing user data on device, the technology is built for privacy, protecting publishers from any browser changes by not relying on the third-party cookie. Its SDK is now running on 350 million devices and the platform sees 15 billion ad impressions globally, which has seen a 5.5x annual increase.
Customers include BuzzFeed, Penske, The Financial Times, The Guardian, Business Insider, The Daily Telegraph, The Economist, Bell Media, News UK, and MailOnline.
The company’s team also includes Aly Nurmohamed, General Manager Publishing (formerly Global MD, Publisher Partnerships at Criteo); and Steve Francolla as Head of Partnerships (formerly Head of Global Publisher Strategy at LiveRamp).