Mills & Reeve advises Grapeshot on its c $8.5million fundraising
Mills & Reeve have advised Grapeshot Limited, the London and New York based digital advertising technology (Ad Tech) company specializing in keyword contextual targeting, on its latest VC and angel investment round raising c. US$ 8.5million.
Grapeshot’s technology helps build connections for brands and publishers as well as their technology partners, using their page crawling algorithm, and enables them to better target their advertising campaigns across multiple territories, languages and markets.
IQ Capital co-led this round alongside Draper Esprit, a member of the global Draper Venture Network. Existing investors IQ Capital Fund I and VCT funds managed by Albion Ventures also participated in this round.
This finance will enable Grapeshot to fund sales and marketing growth, further product development, launch new products and enter new geographic markets and support its new staff and working capital requirements.
The Mills & Reeve team is nationally renowned for its specialist experience and expertise in advising and assisting on complex investments in fast growth and developing high-tech businesses. Corporate partner Zickie Lim advised Grapeshot on this deal, assisted by Corporate principal associate, Pippa Pearce, associate Jing Xu, Tax partner, Kevin Lowe. Zickie said “We are delighted to have been able to work again with Grapeshot on this latest fundraising which will be vital to enable it to accelerate its business growth and scale up and to continue its global expansion. With brands and businesses seeking ever increasingly sophisticated methods of targeting, engaging with and defending their customer bases, Grapeshot is ideally positioned to become a global leader in this busy and thriving sector.”
John Snyder, CEO of Grapeshot said: “This investment will drive rapid expansion of our presence in New York and Singapore with new office openings in Chicago, San Francisco, Los Angeles and Sydney. Coupled with this, I’m delighted to announce the appointment of Kurt Kratchman as Chief Operating Officer, based in New York. Kurt’s wealth of C level experience will be essential in our drive to become a global leader in real time, contextual search and analysis.”