London-based mobile advertising firm Ogury has raised $50m (£38m) in fresh funding as it looks to expand into new international markets.
Ogury today announced it has secured the backing in a round led by private equity firm Idinvest, with additional funds from various banks.
The ad tech firm, founded in 2014, provides mobile marketing services to brands, with a focus on ensuring compliance with data protection laws such as the EU’s General Data Protection Regulation (GDPR).
Ogury said it will use the cash injection to fuel customer growth in its key US market, as well as to support its expansion in new markets in Europe and Asia Pacific.
“The company saw the opportunity in the US, Latin America and APAC, and entered these key markets before any indication of potential regulations,” said co-founder and co-chief executive Thomas Pasquet.
“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.”
Ogury pulled in revenue of $100m in 2018 amid a rapid period of growth since its creation five years ago. The firm now employs more than 400 people across 18 offices, and works with over 1,500 brands globally.
“The digital advertising world is going through its most challenging time given all the new regulations,” said Benoist Grossmann, managing partner at 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.”