Ogury, the creator of the first digital marketing engine driven by user choice, has today announced that it raised $50 million USD to enable the company to accelerate its product innovation and customer growth in the U.S., Europe and APAC.
The funding was provided by Idinvest Partners and various banks.
Ogury is a mobile marketing technology company that was founded in Islington, North London in 2014 with the ambition to reinvent digital marketing, and make it understood, trusted and valued both by users and organisations.
Ogury helps organizations engage users with tailored brand experiences, while allowing those users to make transparent, informed, and fair choices around how, when, and why their data is collected. Its technology ensures compliance with the changing landscape of data protection and privacy laws, such as GDPR and the upcoming CCPA.
In late 2018, Forrester forecasted a 75% decline in adtech funding given the fall-out from companies who failed to comply with GDPR and would not be able to adhere to other upcoming regulations.
With digital advertising revenue outpacing any other medium, the adtech sector is in a critical inflection point. GDPR compliant and CCPA prepared, Ogury intends to lead the advertising market shift from purely data-driven to consumer-choice first. The new investment enables the company to accelerate its product innovation and customer growth in key markets in Europe, the US and APAC.
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Thomas Pasquet, Co-Founder and Co-CEO, Ogury, said: “While many adtech companies have been negatively impacted by the regulations, our market-leading technology solutions have always been based on user informed consent.
“We have partnered with our brand, publisher and agency clients to deliver choice-driven advertising that adheres to the highest standards of data protection. As these markets are following Europe’s early move to enforce companies to become more stringent on consumer data privacy collection, management, storage and use, Ogury is uniquely able to provide brands, publishers and agencies technology and solutions to adhere to all privacy regulations and build consumer trust.”
“The digital advertising world is going through its most challenging time given all the new regulations,” said Benoist Grossmann, Managing Partner, Idinvest Partners.
“Ogury’s consumer consent-driven model was ahead of the curve and they are in a vastly unique position to lead the next phase of its evolution. It’s often stated that money follows opportunity; we invested in Ogury for that reason, coupled with its stellar track record of growth and innovation.”
Since launching in 2014, Ogury has grown rapidly, reaching $100 million in revenue in 2018, and has seen an average annual growth rate of 120 percent. The company, profitable since year one, employs more than 400 people in 18 offices across Europe, the US and APAC. Ogury currently works with more than 3,500 publishers and over 1,500 top brands globally.
The new investment will accelerate Ogury’s growth in the US, a key market for the company since 2016, and support Ogury’s expansion in new international markets. The funding is also destined to fuel product innovation and strengthen Ogury’s presence in established markets.