Shoreditch, London based Adthena, who provide an analytics platform that allows search marketers access to market insight that can help them see what strategies their competitors are using and enhance their own customer acquisition activities, has secured £2m in investment funds from entrepreneur Mel Morris.
Morris was the biggest private investor in King.com as well as its former Chairman, and believes that Adthena, with more than 120 customers, can exploit “the $83 billion search marketing opportunity.”
“With search marketing spend making up on average 50% of digital marketing spend, there is a clear market opportunity for Adthena with their patented technology to provide marketers with a unique “whole market view”, says Morris.
Adds Ian O’Rourke, Adthena’s founder and CEO; “Mel brings a brilliant and highly successful business mind to Adthena and invaluable experience. The investment will enable us to deliver our product in the largest paid search market and build on our industry leading position.”
Morris will join current chairman, the founder of marketing company SmartFocus and a partner at Nickleby Capital, Chris Underhill on Adthena’s board, as well as angel investor Damien Regent.
Adthena grew its revenues by more than £2m in 2015 and has now grown to more than 30 staff, split between Britain and Australia. The company works with some of the world’s largest search marketing divisions, including Toyota, British Gas, Walmart and Bupa.
Adthena’s platform is updated daily and says its “unrivalled” solution covers areas such as gap analysis, CTR improvement, keyword expansion, ad copy, report automation and mobile, shopping and benchmarks.
King.com developed one of the most successful mobile games of all time, Candy Crush – after floating on the New York Stock Exchange (NYSE) in 2014 the company was subsequently acquired by Activision Blizzard this year. Morris is said to have been instrumental in driving a sale price of $5.9bn.
When practised correctly, search marketing techniques can have a transformative effect on the right companys’ marketing results, but without reams of data and feedback, and a good understanding of what strategies your rivals are running, it can be tricky, not to mention expensive, to make any headway.
Most entrepreneurs, unless they happen to specialise in the space, probably have an at best working knowledge of search marketing – what it is and how it works – bidding on keywords, for example, or reaching particular channels – mobile or desktop, but there are endlessly complex nuances to every purchase, click through and rate.
Investing in a platform like Adthena can certainly help an organisation take control, but the service does not come cheap with monthly subscriptions likely to cost 4 or even five figures.
The company, founded in 2012 by O’Rourke, an Australian rock climbing fanatic, also protects companies from brand infringements; “The most common paid search brand abuses are the use of your brand by competitors, Affiliates or other third party advertisers”, they say.
You have been warned. Adthena are currently hiring, and are based in stylish offices on Tabernacle Street, not far from the Bloomberg building in Finsbury Square.