EXCLUSIVE: AdTech startup Suggestv closes Seed from Fuel Ventures
Suggestv, an intelligent video discovery platform for publishers, has closed a $1m Seed led by Mark Pearson at Fuel Ventures.
The company will use the funds to bolster its UK business development plans, expand its publisher base and prepare for international expansion.
Founded in London in 2015, Suggestv provides customers with a video platform to insert relevant video content into online articles.
Suggestv says it is currently serving around 50 million videos a month and claims to be working with well-known media brands such as The Telegraph, Unilad and Global Radio to help them increase advertising revenue.
James Pringle, the 27-year-old co-founder and CEO, commented on the news: “We’re currently seeing a profound shift towards publishers telling stories via video, but at the moment still only 20% of articles have video within them. On top of this, the pre-roll inventory that helps publishers monetise their content will sell out quickly.
“As more consumers shun the likes of banner ads and pop ups, publishers need to pivot to video to survive. With video advertising growing exponentially (46% year on year), the financial reward for publishers is there for the taking, but it’s often difficult for editorial teams to produce new video editorial to monetise,” he added.
David Ayre, who previously worked at native video advertising firm Teads, will be joining Suggestv as head of business development.
Pearson went on to note: “Fuel Ventures are proud to be investors in Suggestv based on their innovation in video technology and strong traction with top-tier publishers. We are excited to start working with James and the team to support their ambitious plans.”
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