An AdTech disrupter has raised more than £1 million in funding and added industry heavyweight Peter Scott as chairman.
UK-based startup Playrcart has created patent pending technology that enables transactions directly within an advertising asset.
Born out of frustration with advertising assets that could only do so much or that redirected consumers on a long purchase journey via the brand owners’ websites, founder and CEO Glen Dormieux and Richard Mason, CTO, developed Playrcart.
It allows customers to instantly purchase products and services directly within rich media assets such as video and gifs, banner ads, as well as via live streams.
With investment from Dominic Shorthouse and Clive Hollick alongside Playrcart’s leadership team, Dormieux plans to use the funding raised to expand internationally and accelerate technical developments.
New chairman Scott co-founded WCRS and became chairman and CEO of Aegis, before later co-founding and heading up The Engine Group, which saw revenues of £120m across three global offices.
“I am incredibly enthused about Playrcart,” said Scott. “What persuaded me to initially invest was the sheer size of the market opportunity, patentable tech and the absolute belief and commitment of Glen and Richard.
“We have a world class technology that’s opening up an entirely new sales channel for businesses. We’re in discussions with some very exciting brands, and our aim now is to make this a global application, and do so quickly.”
Dormieux added: “We’re thrilled to welcome Peter to the team and we’re incredibly encouraged by the backing we’ve received this year.
“We’ve come a long way in a short space of time, and someone of Peter’s expertise will be invaluable in the next leg of our growth.”