UK-based Adestra has raised $7.2 million for its marketing technology, TechCrunch has learned. The new round of capital comes from the Business Growth Fund (BGF) and will be used to help Adestra expand in the U.S.
Founded in 2005, Adestra bootstrapped and was able to develop a profitable business without outside capital. The team created solutions for brands, including MessageFocus, a communication platform for marketers.
“Email, when coupled with strong CRM data, is a tremendously powerful tool which continues to gain momentum in the market as the publicly traded enterprise technology company’s focus on log-in data as a supplement for the cookie,” said Matt McGowan, Global Advisor at Adestra and Strategy at Google. “Adestra, with its strong track record of success and agile multifaceted platform, is well positioned to challenge the publicly traded enterprise technology competition and build sizable marketshare in the U.S.”
Adestra recently launched its U.S. operations in New York and Dallas and will be using the capital to further its U.S. efforts. The company views itself as a competitor of Salesforce, Exacttarget, and Sailthru.
Adestra’s over 500 enterprise clients include Crabtree and Evelyn, Pearson and Thomson Reuters.
Its software garners over 10,000 unique customer log-ins each month and has averaged 40% annual revenue growth for the past decade.
“We are hands-on collaborators, immersed in their business so that we can help them create memorable marketing campaigns and build long-term relationships with their customers,” said Hyder-Smith, CEO and Founder of Adestra. “The investment by BGF is not only a validation of our business model, but it will also help fuel our U.S. growth in a way that is consistent with Adestra’s customer-driven approach.”
