Law firm Browne Jacobson has advised the founders of Covatic on its £4m Series A funding round which was led by Manchester based venture capital investor Praetura Ventures.
The investment round which Creative UK’s Creative Growth Fund and Comcast also participated in will support certified B Corp company Covatic in further developing its technology and expanding into the global advertising and media sector.
Covatic is headquartered in Birmingham and uses pioneering technology to provide innovative, highly scalable, future-proof, privacy first ad solutions to a host of global media companies, universities, and local organisations in a bid to encourage investment outside of London.
Praetura Ventures has invested in 37 companies since establishing its fund in 2019, including early-stage high growth businesses located primarily in the North of England but also across the breadth of the UK.
The Browne Jacobson advisory team comprised Manchester based partner Ryan Brown and associate Bethany Grummitt.
Ryan said: “We are delighted to have assisted the founders of Covatic with their Series A funding round. Covatic’s use of cutting-edge tech to produce compelling advertisement solutions that have a real and GDPR compliant impact are incredibly innovative and its growing customer base, which is made up of some flagship corporates in the media, marketing and advertising sectors, is very impressive. The company is a true digital disruptor in the advertising space and will be a real asset to the Praetura portfolio.”
Covatic CEO Nick Pinks added: “Online privacy is the most important issue facing the media ecosystem. By creating a solution that has privacy built at its core, we’re empowering media companies to deliver better content and advertising experiences. The next step for us is to use this investment to improve and scale our platforms and market reach.
“I would like to thank Ryan and Bethany from Browne Jacobson for their efforts in guiding us through this process and delivering a successful outcome. Their service was second to none, I am so pleased that we had them on our side. Their knowledge in corporate finance and VC transactions and experience of supporting digital disrupters with their growth plans was evident from the off.”
Browne Jacobson’s national corporate finance practice is ranked by Experian as one of the country’s leading corporate finance teams. It operates from our offices in Birmingham, London, Manchester, and Nottingham and is made up of over 50 expert corporate, private equity, venture capital (VC) and banking and finance lawyers delivering multi-layered transactions across a diverse range of sectors including retail, consumer and logistics, manufacturing and industrials, energy and infrastructure, real estate and construction and tech. The team works collaboratively with a rich, diverse, and longstanding portfolio of domestic and international clients including, fast growing start-ups, FTSE 100 companies, private equity investors and the UKs leading banking institutions.
In 2023 Browne Jacobson was named ‘Legal Adviser of the Year’ at the European Private Equity Awards.