Online advertising specialists based on Tyneside are primed to accelerate their technology after landing a multi-million pound investment.
Ezoic, which has a base in North Shields and now has a second office in San Diego, US, aim to site layout and advertising revenue for clients, and the business said it is now set to revolutionise the digital advertising landscape for independent website publishers, after announcing a $5.6m (£3.51m) investment led by London-based Balderton Capital.
The firm’s technology has been tested on more than 400 standalone websites, already reaching 20 million visitors per month.
The funding is a Series A funding round, led by venture firm Balderton Capital alongside New Amsterdam Capital and private investors.
Mark Evans, Partner at Balderton Capital, said: “Balderton backs entrepreneurs who build technologies that transform and disrupt markets.
“Ezoic’s automated platform lets website owners focus on what they do best – creating content -–while Ezoic takes care of the technical details, growing ad revenues and improving user experience. Digital advertising spend is growing 18% year-on-year worldwide and it’s time that smaller publishers claimed their share of that market. We’ve invested in Ezoic because it’s a revolutionary business run by an exceptional team operating in a space with huge global potential.”