Backing from angels and SIB
QueryClick raises £2m to boost analysis of digital advertising
Niki McKenzie and Chris Liversidge
QueryClick, an Edinburgh-based digital marketing consultancy, has received £2m in a funding round led by business angel investment group, Archangels, in partnership with the Scottish Investment Bank (SIB).
The company will use the investment to recruit additional analysts and sales staff and to mount a significant marketing effort to accelerate its growth in this fast-developing sector.
Its technology aims to transform how effectively advertisers invest in digital marketing,
QueryClick was founded in 2008 and employs 54 staff who currently manage more than £1bn of client spend in 28 countries. It counts brands such as Aggreko, BT, EE and Vitality among its clients.
Chris Liversidge, founder and CEO, said: “When digital marketing took off, everything was supposed to be measurable and optimisable – but, in fact, attribution has for years been digital marketing’s broken promise.
“We recognised that the emergence of machine learning offered a new opportunity for our industry to get attribution right for advertisers, who deserve better, and this investment gives us renewed impetus to take our unique solution out to them.”
Niki McKenzie, investment director at Archangels, said: “Knowing which advertising works, and which doesn’t, has always been the holy grail for advertisers. QueryClick’s software is already proving its immense value to its early adopters, making us confident that, with the right support, QueryClick will prove to be another success story for Scotland in this fast-developing sector.”
Kerry Sharp, Director of SIB, said: “Scottish Enterprise has been working with the company for 10 years, from the start-up phase through product innovation and organisational development, so it’s great to see the company expand and create more jobs.”
* eMarketer estimates spending on internet advertising worldwide will reach $316 billion in 2019. Nearly 50% of all advertising spending will go towards online advertisements that appear on desktop and laptop computers, mobile phones, tablets and internet-connected devices. Digital advertising is projected to reach $427bn by 2022.