U.K.-based Adthena, which focuses on AI-powered search data, announced Wednesday a $14 million Series A funding round from Updata Partners, bringing total investments to $22 million.
The latest round will allow the company to build out its AI capabilities, support the launch of new channels, and dig its foothold deeper into the U.S.
“With more than 200 major brands as clients we’ve already proven the value of the search clarity that we bring to marketers.” stated Ian O'Rourke, CEO at Adthena. “With Updata’s investment and experience, we aim to accelerate delivery of AI-driven capabilities customers have been asking for, while supporting an expanding client list in the U.S” such as Volvo and AutoTrader.
Only 15% of companies use AI to drive marketing initiatives, while 31% plan to implement in the technology in 2019, according to data from Adobe and Econsultancy.
The 2018 Digital Trends report is based on a global survey of 12,795 marketing, creative and technology professionals in the digital industry across EMEA, North America and Asia-Pacific.
As part of the investment, Jon Seeber, general partner at Updata, will join Adthena’s board of directors.
Updata has invested about $750 in capital across 40 companies such as Ruby Receptionists, Lendkey, Piano, Storyblocks, and Glassbox.