A former British Olympic medallist has raised millions of pounds for his digital advertising venture from a prolific backer of UK-based SMEs.
Sky News understands that Navigator, which was founded by Steve Rowbotham, who won bronze at the Beijing Games in 2008, will this week announce a £4m funding injection from IW Capital.
The deal is expected to be formally announced later this week.
Navigator works with brands including Formula One, HSBC and L’Oreal to help them target consumers more effectively online.
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It connects advertisers to data collected through airline and travel booking platforms at a time when consumers are increasingly opting not to consent to cookies tracking their online activity.
Navigator says it has over two billion fully consented, first-party data points enabling brands to target consumers.
Mr Rowbotham described the investment as “a major milestone for Navigator”.
“It enables us to accelerate platform innovation and scale our commercial footprint to bring our technology to more travel brands through strategic partnerships,” he said.
“As an Olympic athlete, I understand the value of a high-performance team that is driven towards a common goal”.
IW Capital has backed a string of companies, including digital therapeutics provider Strolll and Reconome, a refurbisher of IT equipment.
“Navigator is solving one of the most urgent challenges in digital marketing – how to deliver effective advertising in a world where privacy is paramount”, said Charlie Lyon Carroll, investment director at IW Capital.
