Performance marketing efficiency platform, Lunio.ai, has revealed an office expansion and significant growth plans following its $15 million of privately backed investment in a round of SeriesA funding led by Smedvig Capital.
The platform – the first to market in the rapidly growing and highly topical performance marketing efficiency space – helps performance marketers achieve more whilst spending less, an essential part of business more so now than ever during these times of economic turbulence. The SeriesA cash injection received in September 2022 is enabling Lunio’s ambitious growth plans which include breaking into the US market.
Lunio’s platform is powered by its unique webassembly technologies, allowing it to provide real-time insights and recommendations for businesses looking to improve the efficiency of their digital ad spend.
Founded in 2018 by Neil Andrew (Co-founder and CEO), Segev Hochberg (Co-founder and COO) and Alex Winston (Co-founder and CBO) the scaleup has quickly grown by both headcount and client base due to brands catching on to the company’s unique offering of full automation and high level of efficiency. The Manchester-based company, which also operates out of London, now boasts an impressive client portfolio of over 1000 businesses which includes leading brands McDonald’s, eBay and MetroBank.
The growth of the performance marketing efficiency category is supported by the firm’s quarterly revenue numbers, with exceptionally strong growth in a market where SaaS companies are otherwise struggling to break through.
The scaleup has also recently appointed Neil Ruth to the VP Partnerships position as it continues to establish and grow its strong agency and channel presence. Neil joins the team off the back of successful exits with travel technology platforms, TapTrip and Vessul, in March 2022.
“Expansion into the United States is our next target with us recently returning from a visit to Dallas, Chicago and NYC. The decision to expand stateside has been organically led by demand from Lunio’s UK agencies who have a US presence, success within our European divisions as well as a huge demand for increased efficiency on performance marketing spend from within the US market,” said Neil, VP Partnerships at Lunio.
“We know that brands and agencies have a pressure to do more with tighter resources, and we’re here to help,” said Neil Andrew, CEO at Lunio. “Our solution is designed to streamline the entire process, from media planning and buying to ad tracking and ROAS measurement, driving increased efficiency at a time when every cent counts.”
Lunio’s SaaS model understands that each client has specific needs and goals, ensuring that its solution is tailored to meet their unique requirements.
“Our vision is to change digital advertising for the better by introducing the performance marketing efficiency concept as a mission-critical part of any digital media spend,” said Neil. “With our recent $15 million cash injection, we’re confident that we can make a real impact in this space and change the way businesses approach digital advertising for the better.”
Commenting on the company’s continued growth Segev Hochberg, COO at Lunio said: “We have ambitious growth plans which include working with European, Australian and Asian markets having already secured significant customers within these regions. The company also aims to double its head count (which currently sits at 69) in line with its plans to open a new 200-capacity HQ in Manchester in March this year. Lunio’s overarching goal is to become Manchester’s next Unicorn brand which it is on track to achieve.”
For further information on Lunio, visit www.lunio.ai
