NumberEight, a London-based startup specializing in ‘privacy-first’ identity solutions for the advertising industry, has secured $2.7 million in Pre-Series A funding. The round was led by ACF Investors and included contributions from early backers Nauta Capital, Ascension Ventures, Enterprise 100 angels, and new groups like COREangels EnterpriseTech and COREangels Big Data & AI Europe. Strategic angel backers included mobile gaming and AdTech experts.
The advertising industry, valued at $615 billion, faces significant challenges due to stringent privacy regulations and reliance on personally identifiable information (PII) for targeted advertising. With varying regulations across regions, the AdTech industry is in need of innovative solutions that maintain advertising effectiveness without violating privacy rules.
NumberEight’s Innovative Approach
NumberEight has developed behavioral intelligence on-device AI technology, enabling advertisers to reach target audiences without traditional cookies or IDs. This approach ensures user privacy while delivering precisely tailored ads in a privacy-first manner.
Future Growth and Global Expansion
Following a period of significant growth and market traction, NumberEight plans to use the investment to propel commercial growth, fortify product development, and expand into the United States. The company has established partnerships across audio, gaming, and advertising sectors, collaborating with industry players such as Southern Cross Austereo (SCA), Adverty, and AdInMo.
Co-founders Abhishek Sen, a former engineer at Apple, Palm, and Blackberry, and Chris Watts, a former IBM researcher, bring extensive experience and multiple patents to NumberEight. Sen emphasized the urgent need for innovative solutions that empower advertisers without compromising user privacy. Tim Mills, Managing Partner at ACF Investors, highlighted the potential of NumberEight’s approach to address challenges facing advertisers and consumers.
Pioneering Privacy in AdTech
The funding round marks a significant step in pioneering privacy-focused solutions in the advertising industry. The company’s on-device AI and innovative approach position it as a key player in addressing the evolving privacy regulations and data constraints in AdTech.