Member Article

Tapdaq entrepreneurs raise £4.6m in Series A funding

London-based Tapdaq, the in-app advertising platform for mobile developers, has secured a Series A funding round of £4.6m.

Tapdaq, which was founded in 2012, attracted backing from BGF Ventures, Balderton Capital, Spring Partners and Open Ocean Capital all stumped up cash to support the tech firm’s growth aspirations.

Co-founded by UK entrepreneurs Ted Nash, Dom Bracher and Nick Reffitt, the company helps app developers gain exposure through cross-promotion and an install exchange between other developers. The platform helps apps get noticed in a saturated marketplace by allowing developers browse the platform and select the apps they want to cross-promote with based on user interest and behaviour.

Ted Nash, Tapdaq’s Chief Executive Officer and one of Forbes’ 30 under 30 in 2015, said: “For an app to succeed today, developers need to be either very wealthy or incredibly lucky. This is because the current app ecosystem is not designed to allow the most original or innovative content to be discovered.

“Whilst there will always be a market for paid user acquisition, it’s important to invent and adopt new routes in order to be found by potential users.

“We help developers acquire new users without the need to spend cash, avoiding the cost-per-install (CPI) battle which has held the majority of developers back from making an impact.

“As we continue to attract quality developers to the platform across a variety of markets, more and more installs are being generated and shared. With this incredible team of investors backing us, we can’t wait to expand our global reach and work hard to become the default platform for developers to fully manage their inventory.”

BGF Ventures’ Partner, Harry Briggs, who joins the Tapdaq board as part of the deal, added: “Ted Nash and the Tapdaq team have the global ambition we look for in entrepreneurs - already they are winning major clients across the globe and making mega-funded Silicon Valley competitors sit up and take notice.

“As mobile apps eat the worlds of software, entertainment and commerce, we believe Tapdaq could help millions of businesses to acquire new customers. We couldn’t be more excited to be joining the journey.”