North West fund follows on in Azullo
THE North West Fund for Digital & Creative has led a six-figure follow-on investment in Lancaster-based Azullo.
The £15m digital & creative fund, managed by AXM Capital, has led an enlarged group of investors into the business, which has developed an advertising system known as Respond.
It attempts to improve response rates to online ads by using an algorithm which matches call-to-action buttons to relevant content across a network of websites. Publishers using the Respond technology include Trinity Mirror and Future Publishing, with adverts run by Netflix, Microsoft and BSkyB, among others.
Azullo co-founder Guy Cookson said: “We created Respond to solve the growing problem of ‘banner blindness’. The Respond call to action button is ten times smaller than a banner ad, but has a ten times better response. This means more revenue for publishers, more conversions for advertisers, and no more interruptive ads for consumers.”
AXM Capital investment director David Smith said: “Azullo has reached a tipping point as an increasing number of leading publishers and advertisers use Respond. This investment will help the company scale its team and service capability, and to continue to innovate the technology platform.”
