Ogury Raises USD$50m (£38m) for International Expansion and to Power Technology Innovation
by on 5th Dec 2019 in News
Ogury, the creator of the first digital marketing engine driven by user choice, announces today that it raised USD$50m (£38m); enabling the company to accelerate its product innovation and customer growth in the US, Europe and APAC. The funding was provided by Idinvest Partners and various banks.
Ogury is a mobile marketing technology company that was founded in Islington, North London in 2014 with the ambition to reinvent digital marketing, and make it understood, trusted and valued both by users and organisations.
Ogury helps organizations engage users with tailored brand experiences, while allowing those users to make transparent, informed, and fair choices around how, when, and why their data is collected. Its technology ensures compliance with the changing landscape of data protection and privacy laws, such as GDPR and the upcoming CCPA.
Ogury has created the first marketing engine driven by user choice, specifically designed to address three key elements integrated all in one place: 1. First-party, informed and traceable user consent, 2. Unique and legitimately actionable insights on the consumers and their mobile journey, and 3. Brand safe and fraud free activation of data and media. Ogury believes this technology will change the direction and future of the entire adtech market.
In late 2018, Forrester forecasted a 75% decline in adtech funding given the fall-out from companies who failed to comply with GDPR and would not be able to adhere to other upcoming regulations. With digital advertising revenue outpacing any other medium, the adtech sector is in a critical inflection point. GDPR compliant and CCPA prepared, Ogury intends to lead the advertising market shift from purely data-driven to consumer-choice first. The new investment enables the company to accelerate its product innovation and customer growth in key markets in Europe, the US and APAC.
Thomas Pasquet, Co-Founder and Co-CEO, Ogury, said, “We have been GDPR compliant by design since Ogury’s launch in 2014 and are CCPA prepared. While many adtech companies have been negatively impacted by the regulations, our market-leading technology solutions have always been based on user informed consent. We have partnered with our brand, publisher and agency clients to deliver choice-driven advertising that adheres to the highest standards of data protection.”
“Ogury’s business thrived before and after GDPR in Europe. The company saw the opportunity in the US, Latin America and APAC, and entered these key markets before any indication of potential regulations. As these markets are following Europe’s early move to enforce companies to become more stringent on consumer data privacy collection, management, storage and use, Ogury is uniquely able to provide brands, publishers and agencies technology and solutions to adhere to all privacy regulations and build consumer trust.”
The new investment will accelerate Ogury’s growth in the US, a key market for the company since 2016, and support Ogury’s expansion in new international markets. Ogury opened its German and Mexican office at the beginning of the year and entered the Dutch and APAC market with offices in Amsterdam and Singapore in September 2019. The funding is also destined to fuel product innovation and strengthen Ogury’s presence in established markets.
“The digital advertising world is going through its most challenging time given all the new regulations,” said Benoist Grossmann, Managing Partner, Idinvest Partners. “Ogury’s consumer consent-driven model was ahead of the curve and they are in a vastly unique position to lead the next phase of its evolution. It’s often stated that money follows opportunity; we invested in Ogury for that reason, coupled with its stellar track record of growth and innovation.”
Since launching in 2014, Ogury has grown rapidly, reaching $100m (£76.6m) in revenue in 2018, and has seen an average annual growth rate of 120 percent. The company, profitable since year one, employs more than 400 people in 18 offices across Europe, the US and APAC. Ogury currently works with more than 3,500 publishers and over 1,500 top brands globally. These new funding endeavours have been led by investors Idinvest Partners, with additional funds coming from various banks. Previous financing for the company was led by ACG, CoVent Partners, Ventech and existing investor Idinvest Partners.
Follow ExchangeWire