Edinburgh based QueryClick is to expand following a £2 million investment led by Scottish business angel group Archangels and the Scottish Investment Bank
Edinburgh-based digital marketing consultancy QueryClick is to embark on an expansion drive following a £2 million investment led by Scottish business angel group Archangels and the Scottish Investment Bank.
QueryClick aims to transform how advertisers do their digital marketing through a machine-learning based tool that enables businesses to precisely allocate their investments in different marketing channels.
While attribution systems have long been available, QueryClick says that its Corvidae software reveals up to 334% more data for attribution than market-leading competitors thus ensuring a better return on investment.
Corvidae tracks the customer’s path across all advertising platforms including TV, newspapers, magazines, out of home and digital.
This level of insight, the company says, is significantly better than what is provided by Google and Adobe and enables Corvidae customers to benefit from as much as 87% in the effectiveness of their digital advertising whether using other digital marketing services and software from QueryClick’s portfolio or applying Corvidae insights to their in-house digital marketing.
The market for Corvidae is seen as substantial, with $316 billion worldwide forecast to be invested in digital advertising in 2019 alone.
QueryClick was founded in 2008 and employs 54 staff, who currently manage more than £1 billion off client spend in 28 countries worldwide.
It counts well-known brands including Aggreko, BT, EE and Vitality among its clients.
It will use the £2 million investment from Archangels and SIB – the investment arm of Scotland’s main economic development agency, Scottish Enterprise – to recruit additional analysts and sales staff and to mount a significant marketing effort to accelerate its growth in this fast-developing sector.
Founder and CEO of QueryClick, Chris Liversidge said when digital marketing took off, everything was supposed to be measurable and optimisable – but, in fact, attribution has for years been digital marketing’s broken promise. They recognised that the emergence of machine learning offered a new opportunity for their industry to get attribution right for advertisers, who deserve better, and this investment gives them renewed impetus to take this unique solution out to the advertisers.
Investment Director at Archangels, Niki McKenzie said that knowing which advertising works, and which doesn’t, has always been the holy grail for advertisers. QueryClick’s software is already proving its immense value to its early adopters, making them confident that, with the right support, QueryClick will prove to be another success story for Scotland in this fast-developing sector.
Kerry Sharp, Director of SIB, said this investment will help QueryClick realise the full potential of its unique product offering in a dynamic and fast-growing market. Scottish Enterprise has been working with the company for 10 years, from the start-up phase through product innovation and organisational development, so it’s great to see the company expand and create more jobs.