London based AI startup set for global expansion following seven-figure funding

NumberEight, a London based startup using on-device AI to deliver ‘privacy-first’ identity solutions for the advertising industry, has raised $2.7m (approx. £2.1m) in Pre-Series A funding led by ACF Investors.

The investment will be used to drive commercial growth, bolster product development, and expedite US expansion following significant inbound market interest.

The $615bn advertising industry, grappling with stringent privacy regulations and an over-dependence on PII for ad personalisation, faces an existential challenge, placing the entire open internet at risk.

Amidst a global climate ripe for privacy-first solutions, NumberEight is ‘uniquely positioned’ to leapfrog market incumbents. At the core is its ‘pioneering’ on-device AI. The technology detects real user behaviours, crafting precise user segments.

Advertisers, in turn, can deliver razor-sharp, relevant ads, all while bypassing the need for traditional cookies or IDs, a true game-changer in enabling personalisation while ensuring user privacy.

This round includes investment from early backers Nauta Capital, Ascension Ventures, and Enterprise 100 angels, new groups such as COREangels EnterpriseTech, COREangels Big Data & AI Europe, and strategic angels, including mobile gaming veterans such as John Libby and Nick Button-Brown, and seasoned adtech mavens such as Ionut Ciobotaru.

The latest investment comes after a period of sustained growth and significant market interest. The company already operates globally with audio, gaming, and advertising customers, including the likes of Southern Cross Austereo (SCA), Adverty, and AdInMo.

Abhishek Sen, CEO and co-founder of NumberEight, commented: “Against the current zeitgeist of increasing privacy regulations and data restrictions by platforms, there is an urgent need for innovative solutions that empower advertisers without compromising user privacy.

“This investment is a testament to our foresight in on-device AI and privacy-focused technologies, setting the stage for our global product and commercial expansion plans.”

Tim Mills, Managing Partner, ACF Investors, added: “Governments around the world are enacting stricter privacy regulations, making it more difficult for advertisers to collect and use user data without their consent.

“NumberEight’s innovative approach to identity and privacy has the potential to make a significant impact in the industry, by addressing the challenges facing advertisers and consumers alike. We are delighted to be a part of this remarkable journey.”

By Matthew Neville – Senior Correspondent, Bdaily

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