Picnic Media, the Social Display Marketplace, has closed its Series A funding round with the announcement of a £2m investment from Guinness Asset Management.
Picnic brings the high-quality ad experiences of social media to the open web by delivering intuitively engaging social display ad formats, such as ‘Stories’ and ‘Carousel’, to Google’s user-first AMP inventory. Bootstrapped until now, Picnic will use the investment to drive international expansion, expand its team and accelerate product development.
In the four years since its launch, London-based Picnic has established itself as one of the UK’s leading homegrown ad tech companies, delivering more than 400 campaigns for advertisers across multiple verticals. Picnic’s user-friendly product delivers average total engagement rates of more than 3x Instagram benchmarks, achieving as much as 18x ROI for some brands, as well as increases in brand perception of up to 129% across various brand studies.
The Series A investment comes on the heels of four years of strong growth and, combined with additional funding from existing angel investors, will drive Picnic into the next phase of its development, starting with a planned expansion into the US market. As part of the investment, Guinness fund manager Ashley Abrahams joins Picnic’s board of directors.
The Perivan investor communications team were delighted to work with Picnic and their advisers with the provision of their corporate and investor interaction platform; Engage, which facilitated the intelligent and secure communications through to the transaction’s successful completion.
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