Contxtful raises CAD$3M SAFE on their way to lead ad tech revolution with Receptivity
It turns out measuring attention was the answer to ad industry woes all along!
Montreal, September 7th, 2022 -- Fundraising for tech startups is a daunting task amidst a recession, but Contxtful— the Montreal startup behind Receptivity proved the urgent need for their product by closing a Simple Agreement for Future Equity(SAFE) of CAD$3M.
The funds come from Canadian and American angel investors with deep roots in the advertising industry, Silicon Valley’s NJP Ventures, and original investors who continued pushing for a more relevant and ethical ad tech world. These funds will allow them to continue breaking records across the entire online advertising ecosystem as they prepare for a mid-2023 series A. No Cost-Per-Acquisition(CPA) cost will be spared, when their metric Receptivity is added to the mix, it’s getting cut in half!
Receptivity is a metric measuring users’ attention right before they are exposed to ads. This is achieved without any 3rd party cookies, in real-time, using non-private sensor data from the user’s mobile device, such as the gyroscope and accelerometer. Advertisers can then show their ads to the most engaged users at the perfect moment. And they always end up saving money by using Receptivity, even when they thought the budget couldn’t get optimized any further. The funds from the SAFE will be used to keep improving Receptivity’s AI model, ramp up hiring in all departments and launch a concerted commercialization push in the United States and Europe.
“Fundraising is hard in the current economic climate, and we’re glad that investors saw that we're here to disrupt an industry and change how people think about adtech. The human context is something we can finally measure in real-time and leverage all while remaining ethical, and YES, cookieless.” said Éléonore Piché, Contxtful’s CRO, “How? We're speaking with innovative SSPs and DSPs to make Receptivity available at scale to advertisers and agencies who actually want results. Let's take the next year to turn the industry around for good without waiting on Google to finally decide to drop cookies and unethical practices to lead our industry
Want to know more about how they cut a client’s CPA cost by 50%? Let’s chat
Contxtful is a Montreal-based deep tech start-up. Their attention metric, Receptivity, helps media companies leverage non-private, sensor-based data from mobile devices to obtain the best advertising results while respecting user privacy. Contxtful has one goal, to make ad tech ethical.