Sustainable ad platform WeAre8 has been backed by Channel 4 Ventures as part of an £11.4 million Series B funding round.
The ad buying engine claims to deliver transformational results for advertisers while contributing to their ESG and sustainability goals.
Every time a user watches an advert, they are paid and donations are made to charity. More than half of every pound advertisers spend on WeAre8 is shared directly with people and charities, with another 5% going to a creator fund to fuel micro shows, collaborations and monthly challenges on the 8Stage – a hate-free evolution of the social feed.
WeAre8’s mission is to democratise digital advertising, putting people and the planet at the economic centre of the multi-billion-dollar digital ad ecosystem.
The firm has a partnership with EE and large talent agreements. It will launch its first TV advertising campaign in the UK across Channel 4’s platform portfolio including its streaming service All 4 in Q2 2022 to drive significant brand awareness and reach across its young audience.
The ad campaign will feature high profile brand ambassadors including Rio Ferdinand and will highlight the impact that is possible on WeAre8 as people unite in support of the planet.
“We are delighted to announce this strategic investment from Channel 4 and Centerstone Capital,” said CEO and founder Sue Fennessy. “People across the UK and the world are under more economic pressure than ever before and the WeAre8 technology brings money and power back to individuals in a transformational way all while uniting them to help solve the world’s biggest issues.
“The investment from Channel 4 and Centerstone Capital is enabling us to scale our technology to millions of people every day.”
Vinay Solanki, head of Channel 4 Ventures at Channel 4, said: “As we continue to focus on growing an investment portfolio of like-minded purpose-driven businesses, we were particularly impressed with WeAre8 and its founder Sue Fennessy.
“The WeAre8 technology presents a compelling and ethical alternative social digital platform for brands to communicate with consumers. We’re really excited to support WeAre8 and hope the campaign launch across our powerful marketing platform will resonate with our core young viewers who care passionately about environmental and societal issues, and drive mass adoption in the UK.”