Passendo raises €2.3M to boost media publishers’ ad revenues

Passendo, an email adtech company, announces it has 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.

Passendo raises €2.3M to boost media publishers’ ad revenues
Passendo’s Anders Rasmussen (on the left) and Andreas Jürgensen.

Passendo was founded in 2016 by Andreas Jürgensen and Anders Rasmussen. The email ad serving platform helps newsletter publishers activate new incremental revenues and gain control over ads' content and quality, says the company.

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.”

You can find out more about Passendo in our Publishing Services Directory.

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