Manchester-based AdTech startup OfferMoments has raised £1.5m in a round led by Michael Edelson, a director at Manchester United FC.
Other investors in the startup – which won People’s Choice at UKTN’s Elevator Pitch LIVE last year – include mobile industry veteran Paul Althasen, who founded MPC and sold it to Vodafone; and Apadmi Ventures, the investment arm of mobile technology group, Apadmi.
OfferMoments, which offers personalised digital billboards powered by facial recognition and mobile data technology, will use the money to launch a new product to market next month. Details of the product launch are being kept under wraps, but developers say it will seek to disrupt the £1bn outdoor advertising market.
Abdul Alim, chief marketing officer of OfferMoments, spoke about the raise: “This is a really exciting time for us as we continue to expand our offering and develop an innovative new OOH service, which we believe will transform the face of advertising as we know it. The investment will contribute to the ongoing development of the product and help us to successfully launch it to the market.”
The raise comes after the company won People’s Choice at Prince Andrew’s [email protected] programme in 2016.
Howard Simms, CEO of Apadmi Ventures, added: “OfferMoments is a truly revolutionary business that is constantly on the lookout for innovations that can disrupt the world of advertising.
“At Apadmi Ventures, we are dedicated to investing in technology businesses in the North that are set to completely disrupt their sectors. After hearing about OfferMoments’ unique business venture, we’re convinced that it is going to be a game-changer. We’re looking forward to working with the team and seeing what we can achieve together.”
Check out our UK tech investment tracker to find out which companies are raising and from whom.