Permutive, a London-based publisher-focussed data management platform, has raised $18.5 million of Series B funding, in a round led by Octopus Ventures with participation from EQT Ventures and earlier investors. According to a press release, the company tripled its revenue growth last year.
The fresh capital will fuel international expansion, particularly in North America, and “to continue the momentum of helping publishers to understand and monetize their audiences,” says CEO Joe Root.
The SaaS platform allows global publishers to increase their targetable advertising, while still protecting reader privacy by using edge computing and processing user data on device. Essentially, the tool does away with the third-party cookie, which privacy regulations are slowly outlawing anyway.
Founded in 2013 by Root and Tim Spratt (CTO), both Entrepreneur First and Y-Combinator alumni, the startup raised a $10 million Series A two years ago. Current customers include BuzzFeed, Penske, The Financial Times, The Guardian, Business Insider, The Daily Telegraph and The Economist.