NumberEight, a London-based startup using AI to deliver ‘privacy-first’ identity solutions for the advertising industry, has raised £2.1 million.

The pre-Series A funding, led by ACF Investors, will be used to drive commercial growth, bolster product development, and expedite US expansion following significant inbound market interest. 

The advertising industry, grappling with stringent privacy regulations and an over-dependence on personally identifiable information for ad personalisation, faces an existential challenge. 

Amidst a global climate ripe for privacy-first solutions, NumberEight has pioneered ‘on-device AI’ which detects real user behaviours, crafting precise user segments. 

Advertisers can then deliver relevant ads while bypassing the need for traditional cookies or IDs.

This round includes investment from early backers Nauta Capital, Ascension Ventures and Enterprise 100 angels, new groups such as COREangels EnterpriseTech, COREangels Big Data & AI Europe, and strategic angels – including mobile gaming veterans such as John Libby and Nick Button-Brown, and seasoned adtech mavens such as Ionut Ciobotaru.

NumberEight already operates globally with audio, gaming and advertising customers, including the likes of Southern Cross Austereo (SCA), Adverty and AdInMo.

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“Against the current zeitgeist of increasing privacy regulations and data restrictions by platforms, there is an urgent need for innovative solutions that empower advertisers without compromising user privacy,” said Abhishek Sen, CEO and co-founder. 

“This investment is a testament to our foresight in on-device AI and privacy-focused technologies, setting the stage for our global product and commercial expansion plans.”

Tim Mills, managing partner, ACF Investors, added: “Governments around the world are enacting stricter privacy regulations, making it more difficult for advertisers to collect and use user data without their consent. 

“NumberEight’s innovative approach to identity and privacy has the potential to make a significant impact in the industry, by addressing the challenges facing advertisers and consumers alike. We are delighted to be a part of this remarkable journey.”

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