Venture capital firm Grafton Capital has acquired ProQuo AI, a brand management platform used by Dr Pepper, Amazon Prime and Unilever, for an undisclosed sum.
ProQuo AI’s software is used by brands to plan, test, monitor and review advertising campaigns.
Grafton Capital did not disclose the acquisition sum. Investments made my the VC firm range between £5m and £20m, with Grafton Capital usually taking a minority stake in the business.
Grafton Capital’s acquisition of ProQuo AI marks the first in the London-based investor’s Special Situations strategy, where it aims to invest in companies that have found it difficult to raise funding in the current market.
“ProQuo AI’s technology effectively reads the minds of around one million consumers each month, revealing actionable data and insights which are a ‘must-have’ for brand managers,” said Ed Barroll Brown, founder, Grafton Capital.
ProQuo AI has offices in London, New York and Johannesburg.
Jim Brennan, CEO, ProQuo AI, said: “Grafton’s expertise in scaling growth stage, tech-enabled businesses like ours will focus our sales & marketing and streamline our operations so that we can deliver even greater value to our customers.”
Founded in 2014, Grafton Capital invests in European growth-stage technology companies. Grafton Capital to date has invested more than £130m.