Mel Morris made his fortune backing the likes of Candy Crush but since leaving his post as Chairman of the games’ maker King Digital this self-made millionaire is continuing to back early stage tech startups.
The latest firm to benefit from a Morris Angel investment are Audisense, a Shoreditch based SaaS customer insight platform.
The company has received a £3.8m investment from Morris, which they say will help fuel its ambitious plans for growth, boosting its marketing and sales operations and expanding into North America.
“Four thousand Audiense customers are already enjoying the benefits of our SaaS capabilities, but we’re only just scratching the surface of the market”, says Audisense CEO and co-founder Javier Burón.
Audiense’s platform is used by more than 10,000 brands and agencies worldwide; the company’s 2 flagship products are the Connection Platform for larger organisations which helps grow customer and audience bases by “finding, identifying, understanding and connecting with individuals and audience segments”, and Community Manager, for smaller businesses, which provides community analytics, campaign management and listening functionality.
The company is also one of Twitter’s only two official partners for providing advertising and data analytics, and also partners with IBM Watson, who provide their enhanced customer sentiment analysis.
Audiense was founded by Javier Burón and Alfredo Artiles in 2011 and the company have offices in both Shoreditch London and Cordoba in Spain. The team has grown to more than 50 since launch.
Morris says that “I believe the Audiense team and tech, packed as it is with genuine and deep expertise in socially-acquired data and insight, is superbly poised to help businesses extract maximum value from their social marketing budgets,”
He added that businesses today are spending an estimated $15 billion on social marketing in the US alone.
In fact, Audiense aren’t the first adtech firm Morris has backed in the past year. In August last year the serial entrepreneur pumped £2m of funding into Adthena, a search marketing firm also based in Shoreditch, to help them, in the words of Adthena founder Ian O’Rourke, “deliver our product in the largest paid search market and build on our industry leading position.”
Adthena employs 30 staff in Australia and London and grew revenues by £2m in 2015.
Morris is the kind of entrepreneur whose track record suggests he has the ability to move markets on his own – another reason why adtech could be one of the hottest startup sectors of 2017.