Scoota raises GBP2m in growth funding round
Scoota, a specialist in automated omni-channel digital branding technology, has announced a GBP2 million round from Notion Capital, the Angel CoFund (ACF) and VentureFounders.
The growth funding will be used for rapid US expansion plans for the latter part of 2020 and early 2021.
In the current climate this raise speaks to the strength of Scoota’s business model and technology, offering its clients a completely new approach to fraud-free, automated omni-channel digital branding, all through one single platform. The company, which is based in London and New York, is rapidly increasing its direct-client base alongside its swift expansion into the US market.
James Booth, Founder & CEO of Scoota, says: “Many years ago we set out to build a platform that would empower programmatic digital trading with levels of creativity not otherwise seen, while baking in as automated features, optimum solutions for real-time fraud management. It has taken a long time but we are truly excited to now be in market with what many say is a game-changing offering. Being able to close a round at this particular time is a testament to that technology offering and the belief shown by existing and new investors alike. I am also thrilled to welcome the Angel CoFund to the business.”
Scoota’s patent-pending Sentinel technology solves numerous legacy challenges associated with delivering multimedia content at scale via programmatic channels, and automates management of fraud in real time.
Scoota’s technology has already delivered campaigns for over 500 tier-1 brands, including: Ford, Coca Cola, Microsoft, Unilever, and P&G.
Tim Mills, Managing Director at the Angel CoFund, says: “Omni-channel marketing has been a growth market over the past few years but Scoota has done especially well by identifying a gap in the market and creating its own technology for multimedia digital marketing. Its technology has allowed it to capture market share and grow, even under these difficult market conditions, and it is exciting to see the company take this funding to expand into the US, which has already proved to be fertile ground for the business.”
Ian Milbourn, General Partner & CFO at Notion Capital, says: “I’m really pleased to see James complete this finding. Scoota is incredibly well placed to continue growing revenues once trading returns to near normal levels. The team have worked tirelessly to come through the last couple of months and I look forward to a strong year.”
James Codling, Co-Founder of Venture Founders, says: Scoota's market-leading platform is revolutionising multimedia digital marketing and enabling brands to unify their marketing messages across a range of channels. Having backed Scoota since 2015, we're delighted that securing this funding will allow them to further grow market share and drive international expansion."