$5m Funding for Audience Targeting Solution Covatic

In the UK, audience targeting solution Covatic has raised $5m in a Series A round of funding, which it will use to scale its audience segmentation tool, A-Type, and its market reach.

Covatic helps media companies deliver addressable advertising without revealing personal data. Its 'ID-less' technology covers all major platforms, helping brands understand their audiences without extracting, collecting or sharing individual consumer data. The firm maps content consumption and device characteristics, inputs and sensor data to audience segments, to help create segment profiles and predict consumer behaviour; while enabling brands to reach their target audience.

New funding has been led by Manchester-based venture capital investor Praetura Ventures, with participation from Creative UK's Creative Growth Fund and Comcast. Covatic CEO Nick Pinks (pictured) comments: 'I'm so proud of the progress we've made, and this investment is a testament to that. Online privacy is the most important issue facing the media ecosystem. By creating a solution that has privacy built at its core, we're empowering media companies to deliver better content and advertising experiences'.

Web site: www.covatic.com .