AdInsight raises £1.6m from VC fro growth
INNOVATIVE North West company AdInsight which provides call tracking and call analytics services to major corporates, has raised £1.6m to fuel its growth.
The company, based in Salford Quays, is expecting to hire 35 people over the next six months after the venture capital investment from Eden Ventures
AdInsight, founded in 2008 by Ross Fobian and Richard Hamnett, helps companies monitor and maximise their online and offline advertising spend by establishing which keywords have been picked up by consumers searching online.
Clients include travel giants TUI Travel, Thomas Cook, RAC and British Gas.
Ross Fobian, co-founder and CEO of AdInsight, said: “Data-driven online marketing is experiencing tremendous growth and we have seen phenomenal expansion over the last 18 months as a result.
“Our growth reflects the shift towards better targeted marketing activities, as businesses focus on accurate data and attribution. AdInsight provides the technology that completes the missing link which occurs when online visitors pick up the phone to complete the buying process offline, essentially linking the online offline divide.”
Richard Hamnett, co-founder and CTO added: “The deal is a great facilitator, allowing us to grow at an even faster pace. We will be investing in infrastructure and more than doubling our highly talented team which we prize. This will allow us to innovate at a faster pace in the sector and to develop a wider suite of products.”
The company’s flagship producr is AdInsight Clarity, which is a visitor level call tracking and call analytics solution designed to help businesses justify ad spend, increase conversions and cut ineffective advertising.
Peter Jones of Eden Ventures added: “We were very impressed with AdInsight’s data solutions. Call tracking technology is a key component of digital marketing and AdInsight is at the forefront of a rapidly growing industry.”
The corporate team at Manchester law firm Pannone, comprising Philip Treanor, Tom Hall and Katie Simpson advised AdInsight on the deal.
Mr Treanor said: “AdInsight has grown into a leader in the industry and the funding will help it capitalise on the huge potential in the market and fulfil its ambitious growth plans.”
