Tech firm Red Fox Media secures £420,000 funding

A technology firm has launched a new advertising platform after securing a six-figure funding package from backers including the Scottish Investment Bank.

Marcus Brook, co-founder and chief executive of AdAppTive

Red Fox Media has invested a total of £1.4 million in AdAppTive, which automates the selling and buying of online adverts.

The latest £420,000 funding has also been supported by the firm’s angel investor syndicate, ESM Investments.

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Edinburgh-based Red Fox Media described AdAppTive as the first “cookieless” advertising platform of its kind that works across mobile devices, including apps, websites, email and newsletters.

AdAppTive co-founder and chief executive Marcus Brook said the platform deals with a key problem for digital media.

“The cookies relied upon to ensure advertising is targeted don’t work when websites are viewed through apps, instead of on a browser,” he explained.

“In an age where more than half of all page views are made on smartphones, offers a real alternative to the browser-only advertising options, which the industry has been using for years, while improving the returns for both publisher and advertiser.”

David McIntosh, investor director with ESM Investments, said confidence in the company was reflected by continued support from ESM syndicate as well as new investors coming on board.

“We see the huge growth potential for AdAppTive’s capabilities, which is well placed to take advantage of the potential across the digital advertising and publishing market in the UK and beyond.”

AdAppTive has been working with publishing groups including Bauer as well as more than 40 advertisers over the past three years.