Marketing tech firm beats target on SyndicateRoom
A transatlantic marketing technology business has overfunded by 111 per cent in raising £387,247 on Cambridge equity crowdfunding platform, SyndicateRoom.
Affective Logic, with operations in London and California, won investment from London-based VC Dr Thorsten Roser of Syntony Venture – the lead investor – and SyndicateRoom members.
The company helps large organisations conceptualise, plan, design, produce, deliver and monitor campaigns across multiple suppliers and markets; it was created alongside leading advertising agencies, McCann and Martin.
It operates in the fast-growing marketing technology sector, which is expected to grow in value from $22.6 billion in 2015 to $32.3bn in 2018.
The software it has created uses innovations in semantics. By anticipating how its users think and work, the product, Affect, can improve their relationships with technology and ease the entire marketing process, the company claims.
It will use two variants of the product to target two main market sectors. Funds raised through SyndicateRoom will, in part, be used to develop the SaaS variant of Affect.
Advanced discussions with two large agencies are currently underway. Affective Logic has already served numerous paying customers, including General Motors, Aldi and Manpower Group.
General Motors claimed that Affect helped the company save 30 per cent on the operational costs of engaging a pair of agencies to develop and deliver the company's marketing campaigns.
Dr Roser said: “The key indicator for me, before I invested in the company, was to see that there was an outstanding, rapid take-up of the product.”
Gonçalo de Vasconcelos, CEO and co-founder of SyndicateRoom (pictured above), added:“ When we first looked at Affective Logic, it was the feedback from its impressive clientele that really wowed us. SyndicateRoom is well known for its curated approach to selecting deals but it was that feedback, combined with the anticipated growth in market value, that grabbed the team’s interest.”