Passendo, the Email AdTech company that increases revenue for email marketers, announces it has raised €2.3m (£1.96m) in a led pre-Series A funding round by Amsterdam-based VC Newion with UK-based seed funding investors FirstPartyCapital.
Traditional ad servers do not work in emails. To harness the business potential of email advertising, Passendo was founded in 2016 by Andreas Jürgensen and Anders Rasmussen, two seasoned digital advertising pioneers. The award-winning email ad serving platform helps newsletter publishers activate new incremental revenue and control ad content and quality.
Since implementing Passendo, IDG has seen a 454% increase in revenue. German company Ebner achieved an 80% reduction in the time spent managing their newsletter campaigns. Publishing houses such as Roularta, Springer Nature, UK company Reach and Belgian company IPM Media use Passendo’s email ad serving platform to increase their direct revenue and efficiently manage newsletter campaigns.
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Anders Rasmussen, COO & co-founder of Passendo: “Our clients will directly benefit from this financing. This will allow us to continue to develop world-class technology and continue to build strategic integrations with recognized demand partners. This is important as we aim to be the leading global email ad serving platform. »
CEO and co-founder of Passendo, Andreas Jürgensen: “The Newion and FirstPartyCapital partnerships will certainly help us to become a market leader. In addition to their investment, they give us access to a wealth of knowledge and an interesting network. Currently we are a team of 35 people with offices in Denmark, Belgrade, London and the United States. We actually plan to triple our workforce over the next two years to meet growing customer demand, particularly in the US and UK. »
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John Sjölander, Newion partner: “There are teams that create the opportunities of tomorrow, and then there are teams that transform the world of yesterday. Passendo does both: enable the next generation of advertising for the oldest and greatest application on the Internet: email. We are delighted to support this talented and experienced team, our first of many upcoming investments in Denmark!
Rich Ashton, Managing Partner at FirstPartyCapital: “Passendo offers a targeted solution that neither Google nor other AdTech companies can provide, giving publishers and marketers unique email ad delivery and measurement capabilities. We’ve been incredibly impressed with the team, and we’re excited to work with them to build a global category winner.