Ad targeting firm nets £1.5m investment

Cambridge-based behavioural targeting ad firm Grapeshot has raised £1.5 million (E1.65m) from Cambridge VC IQ Capital and a group of private investors. Joining the round as a private investor is Odeon Cinemas CEO and Emap board member Tim Schoonmaker, who joins the Grapeshot board.

Grapeshot offers several online ad products—contextual, targeted display ads, behaviour-targeted e-commerce offers—but also a content recommendation service based on users’ past reading, not dissimilar from Phorm’s WebWise Discover platform.

IBM, Citywire, Incisive Media and UBM’s PR Newswire are all clients.