Mercia Asset Management : Tech firm ‘redefining mobile advertising’ raises £4m for US expansion

Adludio - the London-based adtech company that is a leader in the field of mobile advertising - has secured a £4m investment from Mercia to propel further growth in the US and internationally.

Adludio delivers creative campaigns that make full use of mobile phone features and deliver guaranteed results for brands and advertising agencies. The company analyses data gained through numerous previous campaigns to understand how mobile users engage with advertising and inform creative decisions, and has also developed its own technology to ensure ads are delivered in the best place at the best time. Clients include blue chip brands such as Jaguar Land Rover, Nike, Microsoft, Chanel and LVMH.

Founded in 2015, Adludio has grown rapidly and been listed in the Sunday Times Tech Track 100 and the Deloitte Fast 50. It currently employs around 60 staff worldwide and has existing offices in London, Hong Kong, Taipei and Singapore, New York and Los Angeles. Over the past 12 months it has also established a presence in other US cities including Chicago, Atlanta and Detroit.

Mercia was investing from its Northern Venture Capital Trust (VCT) Funds. Jason Warren of Mercia said: "Mobile has become the primary means of consuming content, yet the majority of mobile advertising remains static. Adludio is redefining mobile advertising and is recognised as a leader in the field. We are delighted to be backing the company on the next stage of its journey. The combination of established international traction and scalable technology alongside this fresh capital leaves the business in great shape to grow rapidly in the coming years."

Paul Coggins, Adludio's CEO, added: "Beyond raising significant capital, we were primarily focused on finding a strategic partner who shares our vision for Adludio's international growth, and has the experience and track record for scaling digital businesses. We're thrilled to be working with Mercia at such an exciting chapter in Adludio's journey, as we bring the most immersive and creative mobile experiences to brands seeking to build memorable engagements with consumers.

"Our successful launch into the US market gives us a deep confidence that we have the right team, product, clients and strategy in order to accelerate our growth more deeply into this market."

Preiskels provided legal advice to Adludio on the investment while Shoosmiths advised Mercia. QVentures provided fundraising advice to the company.