As artificial intelligence continues its charge forwards in popularity, Adludio has raised $2.5 million in funding for its AI mobile advertising platform.
Through this round, Adludio intends to launch a fully automated platform powered by AI. This way, it hopes to provide advertisers with ad campaigns and automated designs to “guarantee engagement”.
Expanding its presence further in the US – beyond New York, Los Angeles, Chicago, Atlanta and Detroit, where Adludio is already established – is another goal from the funding.
The investment came from Mercia via its Northern Venture Capital Trust funds, after initially investing $4.9 million into Adludio back in 2021, as reported by GamesBeat. Since then, Adludio grew by 50 per cent in the US in 2022 and has hired new members to its management team such as CTO Ian Liddicoat and CPO Dave Ramsay.
AI launch expected next year
Mobile ads by Adludio have been made for companies including Ford, Nike, Adidas, and Microsoft, and the platform’s creator hopes to launch the new AI version next year. In theory, this will fully automate a number of processes and provide users with a software-as-a-service product.
Adludio’s CEO Paul Coggins commented on the investment, “At a time when privacy regulation is increasingly limiting the use of personal data, our sophisticated and unique combination of creative, media and AI is leading brand performance on mobile.
“With this additional investment from Mercia, the next stage of our AI-led platform, offering fully automated capabilities, will provide brands and agencies the chance to translate user attention into profit.”
Mercia partner Martijn Kleibergen said, “With stricter privacy rules, relying on ‘cookies’ to deliver targeted advertising is no longer a viable option. Adludio combines strong creative campaigns with algorithms that optimise campaigns in real-time to engage consumers without using personal data. This investment will enable it to continue its growth in the US and expand its client base with the launch of its new self-service platform.”
This article was first published on PocketGamer.biz.
