London-based creative technology startup Octaive is a conversational media platform. Today, the company announced that it has raised £500K in angel investment from high profile industry leaders. Also, this round marks the first external investment into the pioneering startup.
Funds utilisation
Besides the investment, Octaive has hired new members to its board. David Pattison, founder of PHD was recently appointed chairman. Also, there are further board appointments and investments from Dominic Joseph, founder and CEO of Captify, James Patterson, VP at The Trade Desk and Anton Hanley, founder and CEO of TLA.
The creative tech company will use the funds to scale its operations in Europe and the USA, thereby further developing the product capabilities, and scaling up further customer support layers.
According to Sam Peters, Octaive CEO: “Our business has been built on a sustainable footing, in profit after just two years, so we are in the fortunate position to be selective about where we get funding and are especially excited to have such respected industry leaders now backing the company on the next phase of our journey.”
According to Dominic Joseph, founder and CEO of Captify: “In a world without cookies, Octaive offers a compelling AI proposition for brands looking to better engage with prospective customers through conversation at scale. I am excited by the unique offering and the quality of the management team and I am delighted to invest in and support the business. ”
Focuses on privacy
Founded by Sam Peters, Ben Swinburne and Anton Hanley, Octaive’s conversational media technology generates active attention through conversations between consumers and brands within standard display and video inventory. With this platform, users are highly engaged in two-way conversations sans having to click through to the brand’s site. Also, it provides agencies and brands with vital consumer data and insights.
The privacy-first solution has been in high demand since Google’s recent announcements on the phasing out of third-party cookies. Also, brands seek further customer engagement and validation beyond primary metrics, including a basic clickthrough rate. Already, Octaive has seen revenues more than double in the past year, which makes it profitable.
Already, Octaive has a range of high-profile clients including Vodafone, Lego, VW and The Open University.
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