Decentralised marketing infrastructure provider InfoSum has completed a Series A funding round, raising $15.1m (£11.4m).
The Basingstoke firm claims to have built the world’s first decentralized marketing infrastructure, allowing its clients to share their data insights with other firms, while keeping the specifics private.
The software, which is used by Channel 4, The Telegraph, and CNN, allows for the sharing of consumer data while preserving its privacy.
The investment is led by VC firms Upfront Ventures and IA Ventures and supported by strategic partners Ascential, Akamai, Experian, ITV and AT&T’s Xandr.
The funding will be used to accelerate its expansion across North America and Europe.
As part of the expansion, media and advertising leader Brian Lesser will take an active role at InfoSum as Executive Chairman.
Lesser, the founder and former CEO of advertising and analytics firm Xandr, and former North American CEO of media investment company GroupM, joined InfoSum’s board in April this year.
As part of his role, Lesser will work to establish InfoSum globally, including significant investment in North America.
Nick Halstead, CEO and Founder of InfoSum said the investment was “a testament to the success InfoSum is experiencing and its potential for rapid growth across Europe and North America.”
On Lesser’s appointment, he added: “I’m very pleased to welcome Brian in his new role. He brings invaluable knowledge and experience to our leadership team as we increase our presence in North America.”
Lesser said: “With the success it is already seeing in the UK and Europe, I’m thrilled to help establish InfoSum as a global standard for marketing infrastructure. In North America specifically, data-centric companies are thirsting for a new privacy-first solution to data collaboration that allows them to retain control of their data and drive more value.”