Consumers are getting sick of companies collecting their data and targeting them with advertisements without their consent. Governments, in turn, are formulating laws to protect consumers, like the European Union’s Global Data Protection Regulation (GDPR) or the California Consumer Privacy Act (CCPA).
GDPR was adopted in 2016; CCPA in 2018. In a way, digital marketing platform Ogury beat them both to the punch.
Ogury is a consumer-choice-based advertisement engine for brands and online publishers. Here’s what that means:
For publishers, it means site visitors are presented with a choice of how to pay for access to content. Either share personal data and receive targeted ads, or pay with money. If publishers are regulated by GDPR or CCPA, they can show that each user consented to data collection and storage. If not, they’re ahead of the game in winning consumer trust.
For brands, the opt-in feature boosts engagement and conversions, Ogury says, because consumers actually asked for the targeted offers and product suggestions they receive. By not forcing visitors to view personalized ads, the brand avoids leaving a bad taste in the mouths of new or existing customers.
Ogury announced today it raised $50 million to grow its customer count in the U.S., as well as key European and Asian Pacific markets, ahead of more potential state and national consumer privacy legislation.
Ogury has been profitable since its founding in 2014 and broke $100 million in annual revenue in 2018, the company said in a statement. It has an average annual growth rate of 120 percent and counts names like McDonald’s, Amazon and Coca Cola among its customers. Its total funding is $92 million, according to Crunchbase.
The London-based firm employs 400 people across 18 global offices. Following its 2016 U.S. launch, more than 50 percent of the company’s revenue now comes from U.S. business. It has six open roles at its U.S. headquarters in New York City at the time of this writing.
Ogury’s latest funding round was led by Idinvest Partners, with participation from various banks, according to a statement.