Monterosa raises £3.5m
March 22, 2022
Monterosa has raised £3.5m (€4.2m) of growth capital to accelerate development of its real-time engagement (RTE) platform and drive the company’s expansion into new global markets.
The funding was led by 24Haymarket and included existing investor ACF Investors, plus a trio of new investors including Jeremy Darroch, former CEO and Executive Chair at Sky, Chris Rodman previously Group Managing Director of Topps and Richard Scudamore, former CEO of the Premier League – who also joined the Monterosa board in 2021.
Monterosa’s growth is fueled by global demand for interactive fan engagement. In 2021, Monterosa / Interaction Cloud generated 2 billion interactions, serving more than 100 million users globally. Recent new customers adopting the platform include Liverpool FC, Viasat, Formula E and Six Nations.
The infusion of capital coincides with Monterosa’s appointment of Claygate Advisors as its partner on expansion into the US.
“Monterosa’s Interaction Cloud platform has demonstrated a unique value proposition to the company’s rights holder and media customers, allowing them to more successfully navigate changing consumer habits and optimise their revenue potential,” said Paul Tselentis, CEO at 24Haymarket.
Tim Mills, Managing Partner at ACF Investors, commented: “Monterosa was early in identifying the growing demand for interactive fan engagement and the traction it has achieved in terms of interactions, users and big-name customers demonstrates the strength of the business. We can’t wait to see what it achieves next as it accelerates global expansion.”
Monterosa is also expanding its Product and Commercial teams with several recent appointments in key leadership roles: Dan Chronnell, Product Director; Gareth Rees, Head of Business Development and Partnerships; Andy Hoskings, Head of Customer Success; and Holly Tyler, Marketing Director.
“As organisations adopt direct-to-consumer business models, their need to continuously engage, retain and convert audiences increases. Building those direct customer connections means inspiring them to spend time with you, offering up value in exchange for first party data and insight.” said Tom McDonnell, CEO of Monterosa. “We’re determined to help more organisations accelerate innovation by simplifying and speeding up the way they deploy engagement Experiences”.