Leaf Grow, a New Castle-based company that provides end-to-end performance marketing services for eCommerce businesses, has secured £1.75 million funding led by Maven Capital Partners.
The company secured funding of £1 million through the North East Development Fund, supported by the European Regional Development, and £750,000 through The Future Fund, a government scheme backed by the British Business Bank.
Maven Capital Partners is a private equity firm that provides a range of funding options to dynamic SMEs & attractive investment opportunities.
How will the funding be used?
The funding will enable the company to invest in its engineering and data science teams, sales & marketing activities and expand its Newcastle operations, whilst continuing to roll out several product enhancements.
From hours to minutes
Founded by Daniel Salas, Gilbert Corrales, Helga Alvarez, and Melvin Salas, Leaf Grow reduces campaign management time from hours to minutes whilst delivering a better return on ad spend using smart setups, interest-based audience targeting, and campaign budget optimisation.
By utilising a range of real-time conversion rate signals from client websites, the platform enables Leaf’s Marketing Engineers to enhance Facebook audience targeting and optimisation, to drive efficiencies on ad spend and improvement in performance, across the entire customer journey, from ad click to purchase.
Worked with various organisations
The company has worked with various Indie labels, gaming companies, and crypto startups, events and membership organisations, retail, and e-commerce since the inception.
According to the company, the global online advertising market is expected to reach $982 billion (approx £706 billion) by 2025, and Leaf is well placed to capitalise on this forecasted growth.
Peter Smith, the Investment Associate at Maven, said: “The social ad space is constantly evolving, and organisations must remain dynamic to ensure more than ever that they are engaging customers and creating bespoke experiences to satisfy those customers. Leaf is helping businesses cost-effectively acquire and retain high-value customers in what is an increasingly competitive environment. Gilbert has built an impressive business and we are delighted to support the business as it enters an exciting new phase of growth.”
Gilbert Corrales, CEO of Leaf Grow, said: “Leaf has grown significantly in the last two years with very little capital investment. The whole team is excited about what we will achieve with the additional backing from investors and we are really pleased to welcome Maven as part of this round. It is an exciting time for us, and we are experiencing very strong commercial traction from clients all over the globe.”
This article originally appeared in UKTN.
