Scoota (previously Rockabox) is a global leader in programmatic technology for rich media marketing and is at the forefront of a revolution that is occurring in the estimated $170 billion online advertising industry in 2015.
A structural shift is taking place: traditional forms of advertising are rapidly being replaced by more targeted and effective digital campaigns. Companies of all sizes are seeking ways to optimise digital marketing campaigns to engage and interact with their customers in the most impactful and cost effective manner.
Programmatic advertising technology has emerged in recent years and has revolutionised the way companies deliver their digital campaigns by automating the targeting, buying, delivery and measurement of campaigns. The programmatic online advertising display market is forecast to be worth approximately $32 billion by 2017.
“Programmatic rich media will be the major focal point for media agencies in 2016” ROBERT HORLER, CEO NORTH AMERICA, DENTSU AEGIS
At present the programmatic market is largely served by delivering online display banners. However, in spite of the costs involved, Rich Media creative formats (with video and interactivity) are becoming an increasingly important part of a company’s campaign strategy as they are proven to offer significantly enhanced performance in driving awareness and engagement over standard online display formats.
Through its proprietary technology platform, Scoota enables clients to achieve campaign performance that is significantly higher than the industry average for rich media. Campaign engagement rates regularly exceed 5% against a norm of under 0.5%.
The technology is already being used by a number of Scoota’s core customers that include some of the largest media agencies in the world (WPP, Dentsu Aegis, Omnicom Group, Publicis, Interpublic Group, and Havas).
The rate of adoption by the major media agency groups has been substantial, as has the speed of migration to a self-serve preference. The business is poised to exploit this leading position and amplify the strong client relations it has internationally.
In addition to a number of high profile angel investors, Scoota is backed by Notion Capital and Frog Capital, two leading tech venture capitalists from Europe who are behind investments such as RatedPeople.com, DueDil and Currency Cloud.
In July 2015, Scoota successfully raised £3.7 million at a pre-money valuation of £10.5 million, taking total funds invested in the business to £10 million. The funds were used to finalise the development of the self-service product, build out international delivery and drive a strong market position.
In addition to VentureFounders, new investors included Sir John Hegarty (Co-founder of Bartle Bogle Hegarty); Robert Senior (CEO of Saatchi & Saatchi); Martin Boase (Co-founder of BMP and a former Omnicom chairman) and Michael Greenlees (former TBWA president and current chairman of Scoota). Other notable investors include Richard Reed, Jon Wright and Adam Balon (Innocent co-founders).
Scoota is now seeking to raise up to £5 million of additional growth capital at a pre-money valuation of £17.6 million (the same valuation as the previous round), with a minimum close at £3.0 million of which approximately £1.5 million has already been committed from existing investors (including Frog Capital), as well as new investors. VentureFounders is supporting this EIS eligible raise on a best efforts basis.
The Company will use the proceeds to further invest in the product roadmap, accelerate sales, expand to the US market, increase marketing efforts, provide working capital, and action a small but tactical acquisition. The company has a current liquidity position of £900k and needs a further £1.5m to reach profitability.
- Company Legal Name:
- Rockabox Media Ltd.
- Company number:
- Incorporation date:
- Jan 2008
- Company type:
- Private Limited
- Registered Address:
Rockabox Media Ltd.
52 GROSVENOR GARDENS
LONDON SW1W 0DH