NumberEight, a London, UK-based startup using on-device AI to deliver ‘privacy-first’ identity solutions for the advertising industry, raised $2.7M in Pre-Series A funding.
The round was led by ACF Investors. Other investors included Nauta Capital, Ascension Ventures, and Enterprise 100 angels, new groups such as COREangels EnterpriseTech, COREangels Big Data & AI Europe, and strategic angels – including mobile gaming veterans such as John Libby and Nick Button-Brown, and seasoned adtech mavens such as Ionut Ciobotaru.
The company intends to use the funds to drive commercial growth, bolster product development, and expedite US expansion following significant inbound market interest.
Led by CEO Abhishek Sen, NumberEight uses identity without the use of identifiers. Its on-device AI solutions empower publishers and ad platforms to enrich ads with intelligent, ID-less, and anonymized data. This enables advertisers to reach their target audiences effectively and in a privacy-first manner.
The company already operates globally with audio, gaming, and advertising customers, including the likes of Southern Cross Austereo (SCA), Adverty, and AdInMo.
Commenting on the news, Abhishek Sen said: “Against the current zeitgeist of increasing privacy regulations and data restrictions by platforms, there is an urgent need for innovative solutions that empower advertisers without compromising user privacy. This investment is a testament to our foresight in on-device AI and privacy-focused technologies, setting the stage for our global product and commercial expansion plans.”
FinSMEs
11/01/2024