Fred Done continues to back Nottingham-based Adzooma with further multi-million-pound investment

Online advertising platform Adzooma has acquired a second round of investment from billionaire businessman Fred Done.

The increased funding was agreed in April 2019, less than a year on from the initial investment. The investment will allow Adzooma to continue to invest heavily in product development and bolster their client support. They’ll also be able to further accelerate their growth as they work towards becoming a market leading advertising platform.

Fred Done, the founder of Betfred, said: “This company has already exceeded all my expectations. The management, the concept and the business model are simply on a different level. I always like to back a winner!”

Fred’s initial investment allowed Adzooma to scale their infrastructure to ensure they could handle increasing demand for their platform and successfully onboard imminent large scale partnerships.

On top of that, they opened 3 new offices in Nottingham, Manchester and London, and hired more than 50 new employees over the course of 12 months.

Key members were brought on board to help drive the business forward, including a new Head of Sales, Head of Strategic Partnerships and Head of Paid Search.

Director and co-founder Robert Wass said: “It’s great to have obtained a second round of funding from Fred. His backing is invaluable and will allow us to really enhance the product.

“He’s excited that Adzooma is being developed to be accessible to businesses of all sizes and he’s impressed with what we’ve achieved so far. We look forward to welcoming more success over the coming months.”