PHG raises $10m series-B

The new capital has been earmarked for PHG's expansion into the US market.

According to a study by IT research firm Gartner, online and mobile marketing budgets are set to increase by 10% this year. PHG stated brand advertisers spend more than $10bn per year on marketing and it has seen an increase in demand from airline, banking and digital content companies.

Headquartered in San Francisco, Mithril is an investment firm co-founded by Peter Thiel. Thiel co-founded PayPal, which was sold to eBay for $1.5bn, as well as Palantir Technologies.

Previous funding
In December 2010, DN Capital led a seed funding round for PHG, said to be in the region of $2m. Greycroft also took part in the round. In July 2012, the two investors committed $3.1m, bringing the total raised by PHG to more than $5m.

The funding was invested in ongoing technology innovation and to hire key regional executives.

Company
Headquartered in South Shields, PHG is an affiliate marketing and partner management platform that connects large enterprises with 100,000 online and mobile publishers in 150 countries. It has additional offices in the US, Japan and Australia. Its ExactView product, which combines tracking, local language support and partner payments, enables brands to automate many of their processes by tracking.

PHG claims it has seen 250% annual growth since its foundation in 2010. Its clients include Adidas, British Airways and McAfee.

People
Ajay Royan, co-founder and managing general partner at Mithril, joins the PHG board of directors. Malcolm Cowley is CEO of PHG. Ian Sigalow is co-founder at Greycroft. Nenad Marovac is founder of DN.

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• Topics
• UK / Ireland
• Expansion
• Technology
• United Kingdom
• DN Capital