Verify owner raises funds in Open Offer

Location Sciences, the company behind Verify, has raised a total of £2.95 million in a Placing and Open Offer.

Location Sciences works in partnership with brands, media buying agencies, out of home media owners and technology partners to deliver precise and measurable mobile location-specific marketing campaigns.

Its Verify system, a solution designed to extract the full value of mobile location data, launched in summer 2018.

The platform protects advertisers against location ad fraud by ensuring their location-based adverts are targeting the right audiences, as intended.

Through Verify, advertisers can also see how effective a location-based advert has been in terms of its targeting.

The net proceeds of the Placing and Open Offer will be used primarily to market the Verify product globally, particularly in the United States.

Location Sciences has now raised, in aggregate, £3.36 million (before expenses) since 14 June 2018.

Mark Slade, chief executive officer of Location Sciences, said: “We are pleased to have raised a further £0.2 million through the Open Offer to further drive our leadership in ad location data verification.

“This is a significant milestone in the business and we would like to thank our shareholders for their continued support.

“We are excited for what 2019 has in store, as we continue to invest in our products, expand internationally and develop our team.”