Salford’s PowerLinks targets US growth with £4.58m funding

Software business PowerLinks Media Limited is looking at international growth after receiving a multi-million pound boost from London-headquartered Foresight Group.

The company secured the growth capital through Foresight VCT plc, completing a larger Series A investment round totalling £4.58m.

The deal attracted additional participation from angel investors and PowerLinks management.

The new investment will be used to drive PowerLinks’ expansion in the US and other global markets, with plans to increase headcounts in the firm’s sales, client services and tech teams.

PowerLinks’ software automates the buying and selling of personally relevant and user-friendly ‘native’ advertising.

Following the deal, Alex Rahaman has become chairman of PowerLinks and Mickey Christodoulides the firm’s new finance director.

Adtech entrepreneur Alex Rahaman is the founder of mobile programmatic platform StrikeAd, which he grew until it was acquired by ad business Sizmek Inc.

Mickey Christodoulides was formerly group financial controller of video-led adtech company Unruly Media, which was acquired by publishing giant News Corp for £114m.

Foresight investment manager John Cordrey: “PowerLinks represents an opportunity to back a high growth business, operating in an exciting segment of the fast growing adtech sector, with a strong management team and well invested platform.

“Powerlinks has delivered exceptional growth and built fantastic client relationships. We welcome Alex and Mickey, whose sector experience will ensure we continue to provide the best quality of service to our growing roster of customers.”

PowerLinks chief exec Kevin Flood commented: “PowerLinks is poised to drive exponential growth for our customers, by meeting the challenge of automating relevant, personalised advertising to busy consumers who are overwhelmed with choice.

“This investment will accelerate our expansion and innovation plans. We are delighted to have Foresight’s backing and shared vision. The Foresight team, together with the recent appointment of Alex and Mickey, will inject a wealth of experience in scaling transformative digital businesses.”

Alex Rahaman said: “Programmatic native advertising is at a tipping point and PowerLinks is extremely well placed to take advantage.

“I have been very impressed with Kevin and the team and how they have innovated in a competitive sector. It will be an honour to become Chairman of this exciting company, and I look forward to it continuing to deliver on its strategy for growth.”