An adtech startup based in London, Playrcart turns regular advertising assets into instantly transactional storefronts with its patent-pending tech. In a recent development, the company announced that it picked up over £1 million in funding. Also, it has appointed a new Chairman to manage its operations.
International expansion plans
The investment round in Playrcart came from an impressive list of private media savvy investors including Dominic Shorthouse and Clive Hollick alongside its leadership team. Notably, the company plans to use the fresh funds to expand internationally and accelerate technical developments.
“We’re thrilled to welcome Peter to the team and we’re incredibly encouraged by the backing we’ve received this year. We’ve come a long way in a short space of time, and someone of Peter’s expertise will be invaluable in the next leg of our growth,” commented Glen Dormieux, the founder and CEO of Playrcart.
Appoints new Chairman
Besides the investment, Playrcart has added industry heavyweight Peter Scott as its Chairman. He co-founded WCRS and became Chairman and CEO of Aegis, and later co-founded and headed up The Engine Group.
“I am incredibly enthused about Playrcart,” said Scott. “What persuaded me to initially invest was the sheer size of the market opportunity, patentable tech and the absolute belief and commitment of Glen and Richard. We have world-class technology that’s opening up an entirely new sales channel for businesses. We’re in discussions with some very exciting brands, and our aim now is to make this a global application, and do so quickly.”
Playrcart: Heads up!
Playrcart’s technology delivers a frictionless conversion funnel, which turns any ad format, whether video, rich media, social media or live streaming, into a direct sales funnel. The company is truly taking traditional “shoppable video” to the next level with brands that are using Playrcart’s technology to significantly dilute the sales channel.
Whether that’s buying an item featured in a video, booking a test drive, or buying a ticket to a concert, Playrcart’s patent-pending technology fast-tracks the purchase process, thereby reducing the number of clicks it takes to arrive at checkout and offers an immediate purchase option when the customer’s emotional response to an ad is at its strongest within the asset itself.