Headquartered in Copenhagen, Passendo, has just secured a €2.3 million boost. The pre-Series A funding was led by Newion and FirstPartyCapital.
Passendo was founded in 2016 by Andreas Jürgensen and Anders Rasmussen with an aim to power the commercial potential of email advertising. Recognising that traditional ad servers arent fully optimal in email, the founders established the email ad platform to help newsletter publishers activate new incremental revenues and gain control over advertisement content and quality.
The young company is providing value for publishers and advertisers worldwide, with over 4000 premium publishing house newsletter inventories across the world. According to the adtech company’s data, IDG has had a 454% revenue increase since using Passendo, while Ebner has seen an 80% reduction of time spent managing their newsletter campaigns. Publishing houses like Roularta, Springer Nature, the UK-based Reach and the Belgium-based IPM Media make use of Passendo’s email Ad serving platform to increase direct revenues and to efficiently manage newsletter campaigns.
Anders Rasmussen, COO & co-founder of Passendo, said: “Our customers will benefit directly from this funding. It will allow us to keep developing world-class technology and to continue building strategic integrations with acknowledged demand partners. This is important as we aim to be the leading global email Ad serving platform.”
Currently, Passendo has a team of 35 with offices in Denmark, Belgrade, London and the US. Over the next two years, they have ambitions to triple headcount and focus on expanding globally.
