Covatic, a Birmingham, UK-based developer of a privacy-first audience targeting solution, raised $5M in Series A funding.
The round was led by Praetura Ventures. Other investors included Creative UK’s Creative Growth Fund and Comcast.
The company intends to use the funds to further develop its technology while bringing it to the global advertising and media market.
Led by CEO Nick Pinks, Covatic helps media companies deliver private-by-design, addressable advertising without exposing personal data. Its ID-less, privacy-first technology helps brands understand their audiences without extracting, collecting or sharing individual consumer data. Individual consumer data is kept within a user’s device – not sent to the cloud. By mapping content consumption and device characteristics, inputs, and sensor data to audience segments, it identifies when, where, and how an individual engages with content, helping to inform segment profiles and predict consumer behaviours.
The company participated in the Comcast NBCUniversal LIFT Labs Accelerator in 2020, a program that connects startups to senior executives at Comcast, NBCUniversal, and Sky for mentorship and business development. Since then, Covatic has continued to innovate and deploy its solutions to global brands. The company works with media companies, universities, and local organisations to stimulate innovation and investment outside of London.
FinSMEs
18/05/2023