Adgile Media completes $4.5m capital raise for global expansion
Real-time TV ad measurement and analytics company Adgile Media has completed a $4.5m capital raise, bringing its company value to $22.5m.
Investor Rajah Blue Media Holdings has backed Adgile’s plan to roll out its technology into the US, UK, Singapore, Canada, Ireland, South Africa, Indonesia, Hong Kong and Japan.
The technology tracks, interprets and collects data from TV broadcasts in real-time, including every major broadcast signal in Australia and New Zealand. By watching and cataloguing television data 24/7, the technology collects granular data that drills down to brand, product, offer and price, the company said. Adgile then overlays its first-party data with audience analysis, website data and sales data to produce measurements of TV effectiveness.
“Adgile gives brands the ability to determine the real effect TV advertising has on business outcomes,” said Craig Service, chief revenue officer.
“Moreover, we can deliver this data in real-time and with a 360-degree view of the effects of any competitor TV activity. We believe our technology is unique globally, so the obvious next step was to go international with it as quickly as possible.
“Our initial international expansion is very strategic. We have chosen market entries that initially allow our technology stack to collect data immediately.”
Adgile recently announced a partnership with Nine
Earlier this month, Adgile announced a partnership with Nine. Adgile’s chief intelligence officer, Shaun Lohman, said the partnerships with both Nine and investor Rajah Blue Media Holdings position the company to grow.
“You couldn’t wish for better partners, quality organisations who are smart, progressive and extremely supportive. Importantly, they also challenge us,” Lohman said.
“Firmly on our radar in the near future is further international expansion and the development of a programmatic TV marketplace where broadcast TV is traded, measured and optimised the same way as Facebook or Google ads are.”
Adgile is in the process of registering 14 patents globally. Rajah Blue Media Holdings spokesperson Mark Radford said funding the raise was an easy decision.
“Having looked at what Adgile has done in Australia and New Zealand, the robust, granular quality of their data, strong analytics suite and real-time functionality of the technology, it was a good fit for us,” he said.
“Given the significant demand for this type of effectiveness and attribution data globally and the fact Adgile’s technology is extremely scalable, it was not a hard decision for us to fund this expansion.”
Brittney Rigby was Mumbrella's deputy managing editor - news and analysis. She left Mumbrella in April 2021.
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