In the current scenario, the marketers and advertisers are preparing for the cookie-less economy to drive safe engagements for audiences. According to a study by London-based startup Permutive, 73 per cent of brands are concerned about increasing privacy regulations, and over two-thirds (70 per cent) believe that soon consumers will stop accepting the use of their data for marketing purposes, meaning a disruption of business for many brands.
This is where Permutive is looking to make a difference. It is an audience platform for publishers and advertisers, which enables media to be traded in a privacy-safe way.
Permutive raises Series C funding
In a recent development, the company announced that it has secured $75M (approx €64.67M) in its Series C round of funding. With this round, Permutive has now raised a total of $105M in funding to date.
The funding comes at a critical time for the digital advertising industry. “We’ll create a global privacy-first infrastructure required to scale trusted publisher–advertiser relationships in this new world. Built to protect user privacy and instill trust, transparency and efficiency into digital ad spend,” says Joe Root, CEO, and co-founder of Permutive.
Investors and capital utilisation
The investment was made by SoftBank Vision Fund 2. Existing investors, including EQT Ventures, Octopus Ventures, and ACE & Company have also participated in the current round.
Max Ohrstrand, investor for SoftBank Investment Advisers explains, “To underpin a privacy-first web requires unique technology. Permutive can bring a complicated landscape that’s being significantly disrupted into a privacy-safe future. The company’s technology is now running on over 1 billion devices a month globally, and we see tremendous opportunity for sustained growth as on-device processing reshapes adtech.”
The proceeds from this round will enable the company to grow its patented on-device technology and scale its Audience Platform to create a global privacy-first infrastructure for programmatic advertising.
CEO and co-founder of Permutive, Joe Root says, “We’ll be building new data products and tools for publishers to take to market; investing in our privacy infrastructure to power their growth across channels like connected TV and mobile, and ensuring our publishers are well equipped to meet the regulatory needs and opportunities of their local markets.”
Permutive’s privacy-safe infrastructure
Founded in 2013 by Joe Root and Tim Spratt, Permutive is rebuilding data in programmatic advertising to protect privacy. The company claims to be the only Audience Platform built on patented on-device and privacy-preserving technology, enabling premium advertisers and publishers to plan, build, and activate cohorts — while keeping everyone’s data safe.
Through Permutive’s Audience Platform, which has witnessed a 20X growth in targeted ads in the last two years, publishers and advertisers can own and control their data while planning and buying campaigns. This brings transparency, scale, and privacy to programmatic advertising for the first time.
Joe Root says, “Publishers are the foundation of the web, and the relationship they have with their users is the backbone of digital advertising. As privacy shifts the economics of the internet towards this publisher-owned web, a privacy-first infrastructure will ensure this next iteration of digital advertising is immune to privacy chaos, will scale, and thrive.”
Currently, the company is working with clients across Europe and North America including News Corp, Hearst, BuzzFeed, Penske Media, Future plc, The Guardian, Vox Media, Insider, Hubert Burda Media, and Condé Nast International.