Tootle receives Channel 4 investment
January 18, 2018
Tootle has announced a seven-figure investment from Channel 4’s Commercial Growth Fund, striking an airtime-for-equity arrangement with the car-selling platform. As part of the investment, Tootle will be able to launch the television advertising campaign in return for the broadcaster taking a minority equity stake.
Launched in 2015, Channel 4’s Commercial Growth Fund offers high growth potential brands that do not currently advertise on TV at scale, the opportunity to accelerate their growth through TV promotion. The fund has already made eight equity partnerships including recruitment app Jobtoday, digital newsstand Readly and the e-commerce mattress in a box, Eve Sleep.
This major new TV advertising campaign for Tootle will launch on the 18th January across Channel 4’s linear channel network. Designed and created by Toast TV Ltd, the core creative showcases the key features of the car-selling service.
Gordon Tulloch CEO of Tootle says, “This is a fantastic opportunity for Tootle to reach millions of consumers through Channel 4 Sales’ broadcasting stations such as Channel 4, E4, BT Sport and Dave where the Tootle service gets visibility nationally helping both the car selling consumer and the buying dealer. We look forward to working with such a progressive company as Channel 4 and are delighted they have partnered with us.”
Vinay Solanki, Head of Commercial Growth Fund at Channel 4 adds, “Tootle is just the sort of start-up our innovative Fund can benefit – an ambitious digital business that really solves a consumer pain point and needs access early in its growth phase to the fastest and most effective platform to achieve reach and broader brand awareness. We’re looking forward to launching Tootle’s TV ad across our network helping them to achieve the growth many other companies in our portfolio are now enjoying.”