RLC Ventures invests in PubX Pre-Seed Round
Investors in this round: Haatch, Force Over Mass
What is PubX?
PubX.ai is a platform that enables Publishers, through the improved use and application of data, to increase profitability by better pricing their inventory.
It will eventually operate as a SaaS platform, implementing dynamic floor pricing based on Machine Learning decisions and requiring no endpoint technical integration.
Who is behind it?
Andrew Mole (CEO):
Andy previously spent 12+ years building and advising digital/ tech businesses eventually co-founding an AdTech business, Platform360, which he exited in 2018. Platform 360 acted as a Demand Side Platform (DSP), AdServer and analytics provider. Most recently, he was SVP of global revenue at Pub Galaxy.
Nick Feneck (COO):
has over 7 years in various industries, spanning consultancy (BCG), impact funds (GSMA; Seedstars), Venture Building and accelerating companies in ad tech at Founders Factory.
The team behind PubX possess great founder-market-fit, having started and exited a business in the space previously. Andrew led Platform360 their previous venture, to a successful acquisition in 2019.
Platform360 was a Native advertising solution, providing full-spectrum, consolidated spend within one platform. They were are able to reach a global audience of 1.2 billion and drive brand-safe advertising solutions to their network of clients within the world of publishing. Andy and Nicks domain expertise, coupled with Nicks experience in scaling across various markets makes the team strongly positioned to win this market – which is what they are planning on doing with their next venture, PubX.ai.
Whilst being a true pre-seed stage business, PubX is in talks with over 50 Tier-1 publishers across the US, Europe and Asia. From these ongoing conversations, the team have secured substantial LOIs with two Tier-1 publishers and will be going live with their pilots in late 2020 and looking to secure additional contracts in the coming weeks.
PubX sits between the Sell Side Platforms (SSP) and the Publisher within the programmatic marketing stack. Essentially operating as the ‘brain’ behind the SSP, automatically optimising the floor price for the bidding.
The world of programmatic advertising has become increasingly difficult for individual publishers to operate in. Widespread changes to the ecosystem, on both a technical and social level, has made the process of understanding market pricing and optimising ad inventory extremely technical and unachievable for most publishers worldwide.
More than ever they have needed to squeeze as much value from their ad inventory, particularly with the rise of subscription monetisation as well as the unbundling of traditional news outlets.
Publishers have traditionally been underserved by the existing tools and offerings in the market, with the majority servicing the buy-side of the market. PubX is aims to sit unambiguously between the sell and buy side, and works to support both sides of the ecosystem.
This ~$500,000 round saw participation from Force Over Mass Capital, Haatch Ventures and a number of UK angels.
See more from PubX