Birmingham AdTech Covatic raises £1.5m Series B bridge for person-level CTV targeting
What's the deal? Birmingham AdTech firm Covatic has raised £1.5 million to commercialise Covatic Sense, its person-level connected TV (CTV) targeting technology.
The Series B round was led by the West Midlands Co-Investment Fund, managed by Future Planet Capital RegionalDealroom has a profile for this one. Try Dealroom →, with Creative Growth Finance, PXN GroupDealroom has a profile for this one. Try Dealroom →, and angel investors.
Covatic's tech runs on more than 1.7 billion devices with nearly 200 million monthly active users. It already partners with SkyDealroom has a profile for this one. Try Dealroom →, the BBCDealroom has a profile for this one. Try Dealroom →, Bauer Media, and Octave.
Why now? The digital advertising industry is at a turning point. Tightening privacy laws and the collapse of third-party cookies are stripping publishers of the behavioural data they need to sell targeted ads.
Video on demand is the UK's fastest-growing ad channel, yet more than half of marketing decision-makers say they would invest further if CTV measurement and cross-screen attribution improved.
"CTV ad spend is accelerating, but the measurement infrastructure is still catching up," said founder and chief executive officer Nick Pinks. "Person-level targeting on the big screen has been the missing piece, and Covatic Sense solves that structurally."
Covatic uses AI and edge computing to run targeting directly on personal devices, letting advertisers reach verified individuals without harvesting behavioural data centrally.
The company will move its headquarters to STEAMhouse, a co-working space at Birmingham City University.
What could go wrong? Covatic is betting that privacy-first, on-device targeting becomes the industry standard. If broadcasters cling to legacy methods or rivals build their own identity tools, adoption could stall.
The £1.5 million is modest for international expansion, which Covatic plans across more markets and integrations.
The signal: Dealroom still classes Covatic as an early-stage company, underscoring how much room a privacy-first audience segmentation play has to run as third-party cookies fade. With Future Planet Capital Regional leading the round, the bet is that on-device targeting becomes the standard infrastructure for a CTV market that publishers say they would back further if measurement caught up.
Read more: BusinessCloud
