Today Scottish company Adimo announced a strategic partnership with early-stage venture capital firm FirstPartyCapital (FPC), specialising in adtech, martech, and digital media.
Adimo sits at the intersection of retail media and commerce media. It integrates with any form of marketing to make it shippable.
This enables consumer packaged goods (CPG), electronics, health and beauty, and DIY brands to monetise a wide range of their media — from display advertising to video, social to CTV.
Adimo's interactive ad formats provide live pricing and product availability info, allowing consumers to add products directly to their basket at their chosen online retailer, or provide suggestions for nearby offline purchase locations.
The company works with some of the world's largest consumer brands, including Nestle, SC Johnson, Beyond Meat, and Crown Paints.
Gavin Stirrat, CEO at Adimo, shared:
"While many in the industry focus on retail media, commerce media has established itself as a growing, yet largely untapped opportunity.
In today's unstable economy, brands need to ensure ads don't just build awareness, but also drive performance.
FPC's investment and extensive network will support us in meeting increasing demand for commerce media solutions, help brands create better ad experiences, and deliver improved return on investment.
We're dedicated to helping brands #makeitshoppable."
As part of the Scottish company's move to accelerate its growth, Adimo has secured additional funding from FPC, alongside existing investors including Scottish Enterprise.
Rich Ashton, Managing Partner, at FirstPartyCapital, commented:
"Commerce media is a nascent category and Adimo is primed to help consumer brands uncover substantial opportunities to convert otherwise missed purchase journeys via shoppable media."
FPC has already raised $11 million and invested in 15 companies since its 2021 founding.
The firm aims to complete 20 investments and have $15 million AUM by the end of 2023 before seeking to raise a $50 million second fund next year
Lead imagine: Campaign Creators.
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