London-based Evorra has raised a further $1m (£852,000) in pre-seed funding from Boston-based York IE for its audience data marketplace.
Evorra’s software as a service platform provides advertising data to agencies and brands looking to create audiences for marketing purposes.
It pulls its data from partnerships with the likes of Amazon, Meta and IPONWEB and says it is “fully privacy compliant”.
Aaron Ritoper, co-founder and CEO, Evorra said: “The global interest in Evorra is growing every day because we bring together both ease of use and the ability to activate privacy-compliant audiences at scale without a costly and expensive technology burden.”
Evorra has previously been backed by Akama Holding, Vivium, FirstPartyCapital and Shearwater Capital.
Founded in 2020, Evorra says it will use the pre-seed investment to develop its product to match the needs of its agency and brand customers with its “privacy-first data architecture”.
“The advertising industry urgently needs an easier way for advertisers to take back control of their data marketing decisions without the cost and complexity of legacy or some of the new solutions coming to market,” said Marshall Everson, VP, investments and strategy, York IE.
According to research firm GlobalData, the global internet advertising market size was valued at $438bn in 2021 and is expected to grow at a compound annual growth rate of more than 9% by 2030.