Passendo was founded in 2016 by two experienced pioneers in digital advertising, Andreas Jürgensen and Anders Rasmussen, with the aim of exploiting the great potential of email advertising. Regular Ad servers do not work with email, but Passendo’s award-winning email Ad serving platform helps publishers of newsletters increase revenue, launch campaigns and control content and quality.
The funding the startup has received is from two international investors, Dutch Newion and British FirstPartyCapital, and it is not the first time the company gets significant investments.
“There are teams that create tomorrow’s opportunities and then there are teams that transform the world of yesterday. Passendo does both: they use the latest generation of advertising opportunities along with the oldest and largest application on the Internet – email. We are happy to support this talented and experienced team with the first of many future investments in Denmark!”, says John Sjölander, partner at Newion.
“Passendo offers a targeted solution that neither Google nor other AdTech companies can provide, giving publishers and marketers access to a unique email Ad platform and great measurement opportunities. We are very impressed with the team and we look forward to working with them to build a global winner in this area,” says Rich Ashton, managing partner at FirstPartyCapital.
The startup has currently over 4 000 leading media groups and publishers internationally as its customers. Among the Nordic customers you will find Bonnier Publications, which uses Passendo’s technology throughout the Nordic region, and Saxo Bank, which uses it for advertising.
“This investment will directly benefit our customers. Now we can continue to develop world-class technology and at the same time continue to build strategic partnerships with recognized partners. This is important as we aim to become the leading global email Ad serving platform”, says Anders Ratzau Rasmussen, COO and co-founder of Passendo.
Many international financial news outlets prefer Passendo’s technology as well. The same goes for large foreign media houses like Roularta, Springer Nature, IPM Media and Reach, which use Passendo’s platform to effectively manage their newsletter campaigns. German Ebner today spends 80% less time managing their campaigns after the implementation of Passendo’s platform.
“The partnerships with Newion and FirstPartyCapital will undoubtedly help us on our way to a leading position in the market. In addition to their investment, they give us access to a lot of knowledge and an interesting network. At present we are a team of 35 people with offices in Denmark, Belgrade, London and the USA. We aim to triple the number of employees within the next two years to meet the growing demand, especially in the US and the UK,” explains Andreas Jürgensen, CEO and co-founder of Passendo.
If you want to find out more about Passendo, read our interview with the founders here.