London-based Ogury, the creator of the first digital marketing engine driven by user choice, announces today raising €45 million, enabling the company to accelerate its product innovation and customer growth across the US, Europe and Asia-Pacific. The funding was provided by Idinvest Partners and various banks.
Ogury is a mobile marketing technology company founded in 2014, in Islington, North London. Their mission is to reinvent digital marketing and make it understood, trusted, and valued by both users and organisations – no easy feat considering the current landscape of distrust towards online media.
So, how do they plan to make digital marketing trusted again? Ogury’s marketing engine helps organizations engage their users with ‘tailored brand experiences’, while allowing those same users to make transparent, informed, and fair choices around how, when, and why their data is collected.
Moreover, its technology ensures compliance with the seemingly ever-changing landscape of data protection and privacy laws. Failing to comply with GDPR has apparently caused an expected 75% decline in funding in AdTech, according to a report by Forrester, signalling a critical reflection point for this sector. GDPR compliant and CCPA prepared, Ogury intends to lead the advertising market shift from purely data-driven to consumer-choice first.
Thomas Pasquet, Co-Founder and Co-CEO, Ogury, said, “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.”
Since launching, Ogury has grown rapidly, reaching €90 million in revenue in 2018, and has seen an average annual growth rate of 120%, and 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.
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.”