Published on December 13, 2021
Copenhagen/Amsterdam/London, December 13, 2021– Passendo, the Email AdTech company that boosts email marketers’ revenues, announces to have raised €2.3 million in a pre-Series A round led by Amsterdam-based VC Newion, together with the UK-based early-stage funding investors FirstPartyCapital.
Traditional Ad servers don’t work in email. To power the commercial potential of email advertising, Passendo was founded in 2016 by Andreas Jürgensen and Anders Rasmussen, two seasoned digital advertising pioneers. The award-winning email Ad serving platform helps newsletter publishers activate new incremental revenues and gain control over the Ads content and quality.
Since the Passendo implementation, IDG showed a 454% revenue increase. The Germany-based Ebner realised an 80% reduction of time spent managing their newsletter campaigns. Publishing houses like Roularta, Springer Nature, the UK-based Reach and the Belgium-based IPM Media make use of Passendo’s email Ad serving platform to increase direct revenues and to efficiently manage newsletter campaigns.
Anders Rasmussen, COO & co-founder of Passendo: “Our customers will benefit directly from this funding. It will allow us to keep developing world-class technology and to continue building strategic integrations with acknowledged demand partners. This is important as we aim to be the leading global email Ad serving platform.”
CEO and co-founder of Passendo, Andreas Jürgensen: “The Newion and FirstPartyCapital partnerships will definitely help us grow towards market leadership. Next to their investment, they give us access to a wealth of knowledge and an interesting network. Currently, we are a team of 35 people with offices in Denmark, Belgrade, London, and the US. We actually plan to triple our headcount within the next two years to meet the growing customer demand, especially in the US and UK.”
Newion Partner John Sjölander: “There are teams that create the opportunities of tomorrow, and then there are teams that transform the world of yesterday. Passendo is doing both: enabling the next generation of advertising for the oldest and largest application on the internet – email. We’re very excited to back this talented and experienced team, our first of many investments to come in Denmark!”
Rich Ashton, Managing Partner at FirstPartyCapital: “Passendo offers a focused solution that neither Google nor other AdTech companies can deliver, giving publishers and marketers unique email Ad delivery and measurement capabilities. We’ve been incredibly impressed by the team, and we are excited to work with them to build a global category winner.”
About Passendo
Passendo is the leading European platform commercialising newsletter inventory. Founded in 2016 by two digital advertising pioneers, their award-winning email Ad server and SSP provide value for publishers and advertisers worldwide, with over 4,000 premium publishing house newsletter inventories across the world. Partnering with some of the world’s largest media publishers, Passendo helps them activate new incremental revenues in an existing and untapped media channel – in-email advertising – reaching new audiences to unlock new and exciting opportunities. For more information, please visit: www.passendo.com or call Anders Rantzau Rasmussen on +45 2968 0833 for a demo or an introduction.
About FirstPartyCapital
FirstPartyCapital is an operator-led seed fund that is seen as the strategic investor of choice for early-stage AdTech, MarTech, and digital media businesses globally. The firm’s investor base includes hundreds of industry insiders, giving portfolio companies privileged access to a wealth of knowledge, expertise, and commercial opportunities. For more information, please visit: www.firstpartycapital.com
