Rael Cline, CEO of MediaGamma
The predictive analytics software company has closed a £2m funding round led by the UCL Technology Fund.
The UCL Technology Fund has invested in MediaGamma, the predictive analytics software company, as part of a £2m round in partnership with ParkWalk Advisors and the London Co-Investment Fund (LCIF).
MediaGamma has developed a world leading enterprise-grade reinforcement machine learning (self-learning) platform, delivering decisions in under five milliseconds.
It has proven its technology in programmatic advertising, building and training more accurate user-profiling and bidding algorithms that vastly reduce customer acquisition costs for their clients.
The investment will enable MediaGamma to create a SaaS product and grow its team. Over US$30bn was spent on programmatic advertising in 2017, and MediaGamma has consistently proved that it can provide a world leading targeting capability.
MediaGamma was spun out by UCL Business in 2014 to commercialise research developed by Prof Jun Wang in UCL Computer Science.
In 2016, the company became one of the early recipients of funding from the UCL Technology Fund which was used to engineer MediaGamma’s product to deliver lightening quick response times and secure initial commercial traction for its innovative adtech platform.
Rael Cline, CEO of MediaGamma, said: “This investment will enable us to harness the full potential of our technology by building a self-serve product.
“This takes advantage a growing appetite from companies to build their own machine learning capabilities, taking control and demanding transparency over the datasets.
“We will look to add more product development and sales expertise to our team to augment this process, while working in partnership with UCL academics at the global forefront of reinforcement learning innovation.”
David Grimm, investment manager at UCL Technology Fund, added: “MediaGamma’s technology has, in a competitive field, proven itself to have world leading capabilities. We’re delighted by the progress they have made since our initial, small investment.
“The company has an excellent data science team, global existing client base and robust pipeline of potential customers. We are excited by the opportunities this funding round will unlock and enable MediaGamma to pursue.”
This is the second investment the UCL Technology Fund has completed in partnership with LCIF.