Newcastle marketing technology company, Leaf, has secured a £1.75m investment.
The cash will be used to invest in its engineering and data science teams, sales and marketing activities. It will also help its “ambitious expansion plans” as it releases a number of new product lines.
“Leaf has grown significantly in the last two years with very little capital investment. The whole team is excited about what we will achieve with the additional backing from investors and we are really pleased to welcome Maven as part of this round,” said Gilbert Corrales, CEO of Leaf Grow.
“It is an exciting time for us, and we are experiencing very strong commercial traction from clients all over the globe.”
The investment was led by Maven, with £1m coming through the North East Development Fund, supported by the European Regional Development Fund, and £750,000 from The Future Fund, a government scheme backed by the British Business Bank.
Leaf provides performance marketing services to ecommerce businesses seeking to scale revenue growth from paid social. Its clients include GoCompare, Footasylum, Mastercard ad Bibado.
“The social ad space is constantly evolving, and organisations must remain dynamic to ensure more than ever that they are engaging customers and creating bespoke experiences to satisfy those customers,” explained Peter Smith, Investment Associate at Maven.
“Leaf is helping businesses cost-effectively acquire and retain high-value customers in what is an increasingly competitive environment. Gilbert has built an impressive business and we are delighted to support the business as it enters an exciting new phase of growth.”
The global online advertising market is expected to reach $982bn by 2025.
