Hull video advertising company secures backing from Northern Powerhouse
By Hull Daily Mail | Posted: 31 May 2018
An award-winning Hull video advertising company has secured a £200,000 investment from the Northern Powerhouse to help it continue to flourish.
Ash TV, based in Queen Street, currently employs 11 people, but the new backing will enable them to recruit new programmers.
The business has wowed customers since its launch, and was one of the winners at the 2016 Northern Tech Awards.
It has also developed an innovative video advertising platform which targets adverts using location and social media data.
Ash Lewis, founder and CEO of Ash TV, said: “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.”
The funding has come from the Northern Powerhouse Investment Fund (NPIF), which recently reached a landmark £50m of support to the region’s businesses in its first year.
The NPIF is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
The latest funding round will allow Ash TV to further develop its video advertising platform and recruit additional programmers. It follows an initial investment from NPIF – Mercia Equity Finance last year.
Ash TV now employs a team of 11 people in Hull, Germany and the Netherlands, while the platform is increasingly being used by heavyweight agencies, publishers and advertisers.
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.”
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 (AI) software to target advertisements using location and social media data, and provides real-time feedback to clients on the effectiveness of their campaigns.
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