Funds for Ad Targeting Firm IO Technologies

UK-based big data and behavioural ad targeting company IO Technologies Group has raised £1.7m in venture capital, which it intends to use to open offices in London and San Francisco this year, and New York, Hong Kong and Germany in the future.

Founded last year by media veteran Raoul Witherall (pictured), Plymouth-based IO Technologies Group's proprietary intelligent real-time media buying platform applies multivariate analysis and machine learning to massive data sets, to allow clients to create unique data models and automate the user targeting process.

New funding has been secured from a number of undisclosed UK technology investors. Witherall comments: 'We have a business plan that takes us into five territories. Beyond San Francisco, we will develop within nine months a regional HQ in Hong Kong, for Asia Pacific. German and New York offices will operate as satellites, and there could be another in addition.'

Web site: www.dsp.io .