NumberEight Secures $2.7M in Funding for Privacy-First Solutions

NumberEight, a London-based startup, has secured $2.7 million in Pre-Series A funding led by ACF Investors. This investment marks a significant step for the company, which specializes in on-device AI solutions for the advertising industry, prioritising user privacy.

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The advertising industry, valued at a staggering $615 billion, faces mounting challenges due to privacy regulations and a reliance on personally identifiable information (PII) for ad personalisation. In response to this landscape, NumberEight harnesses on-device AI technology to detect real user behaviours, enabling precise ad targeting without compromising user privacy.

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The shift towards on-device computation, commonly referred to as "the Edge," presents lucrative opportunities for businesses. NumberEight's innovative approach capitalises on this trend, offering high-margin business models while ensuring user data remains on the device, safeguarding privacy.

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The recent funding round, which includes backing from prominent investors such as Nauta Capital and Ascension Ventures, underscores the growing interest in privacy-first solutions within the advertising industry. Additionally, strategic angels with extensive experience in mobile gaming and ad tech sectors further validate NumberEight's potential to disrupt the market.

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CEO and Co-Founder of NumberEight, Abhishek Sen, emphasised the urgency of innovative solutions amidst increasing privacy regulations. He highlighted the company's commitment to empowering advertisers while respecting user privacy, positioning NumberEight for global expansion and product development.

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Tim Mills, Managing Partner at ACF Investors, echoed Sen's sentiments, recognising NumberEight's potential to address the challenges facing advertisers and consumers alike. As governments enact stricter privacy regulations, solutions like NumberEight's on-device AI offer a promising path forward for the industry.

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NumberEight's technology operates on the principle of identity without identifiers. By processing data directly on the device, the company ensures that no raw data leaves the user's device, preserving anonymity. Advertisers can access anonymised behavioural insights, enabling personalised ad targeting without relying on traditional cookies or IDs.

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The company's existing partnerships with leading players in audio, gaming, and advertising sectors, including Southern Cross Austereo, Adverty, and AdInMo, demonstrate its relevance and market traction.

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In conclusion, NumberEight's successful funding round signifies a pivotal moment for the company and the advertising industry as a whole. With its focus on privacy-first solutions and on-device AI technology, NumberEight is poised to redefine ad targeting while safeguarding user privacy in an increasingly regulated landscape. As the company embarks on its journey of commercial growth and expansion, it stands at the forefront of innovation in the advertising sector.