Hull video ad company secures a further £200k NPIF investment

A Hull-based video advertising company has secured an additional £200k investment from NPIF- Mercia Equity Finance, which is managed by Mercia Fund Managers and part of the Northern Powerhouse Investment Fund.

Ash TV will use this latest funding round to further develop its video advertising platform and recruit additional programmers.

Founded in 2016 by Ash Lewis, Ash TV has developed a novel in-browser video advertising platform for mobile devices. The technology is supported by artificial intelligence software to target advertisements using location and social media data, and provides real-time feedback to clients on the effectiveness of their campaigns.

Ash TV now employs a team of 11 people in Hull, Germany and the Netherlands.

Simon Crabtree, investment manager with Mercia Fund Managers, said: “Ash TV’s platform allows advertisers to stream video directly to people’s mobile phones and increase sales by targeting and engaging the audience more effectively.

“The company has been growing rapidly, with new clients coming on board every month. This latest investment will allow Ash and his team to further enhance its platform and increase capacity as they continue to scale up the business.”

Ash Lewis, founder and CEO of Ash TV, added: “This is a planned, welcome next stage in the growth of Ash TV, the financial opportunity from which has already allowed us to appoint three full-time senior developers, whilst also creating the scope for more growth.

“It is not only an affirmation of the Ash TV business model - it also goes some way to showing the robust nature of the tech scene here in Hull and across the North, where we’re proud to be part of a Northern Powerhouse that is living up to its name.”

Mark Wilcockson, senior relationship manager at British Business Bank, also commented: “Ash TV has achieved strong growth following the initial investment last year, and we are pleased that Mercia has continued to support the company and its talented team in its next stage of development.

“The company is a prime example of how NPIF funding is making real differences to businesses across the Northern Powerhouse region, and we look forward to our fund managers continuing to deliver further investment to support job creation and business growth.”

Phil Glover, growth hub programme manager for the Humber LEP, also said: “I am delighted that Ash TV continue to get the financial support from the Northern Powerhouse Investment Fund to enable them grow.

“I am equally delighted that the Humber Growth Hub was able to provide the initial link to the fund. Ash and his team are pushing the boundaries in tech development and I am sure they will be our ‘Scale Up’ stars of the future.”

Gareth Saynor and Caroline Walker of CMS provided legal advice to Mercia on the investment.

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