Leeds-based digital marketing provider Modo25 has secured six-figure government funding to support its new advertising technology platform.
The company was successful in its bid for a grant from The Sustainable Innovation Fund: round three (temporary framework) for its single research and development project.
The Innovate UK competition launched to support projects that will help all sectors in the UK rebuild after Covid-19, offering winners a share of a £10m fund.
Modo25’s BOSCO platform uses a scoring system to tell business owners which paid media channels are best for their business and how much should be spent on each for maximum ROI.
Chief executive John Readman said: This grant has been huge for Modo25 and BOSCO. This past year has been incredibly tough for businesses, especially those who don’t know much about digital marketing and paid media.
“The BOSCO platform is designed to help businesses understand, plan and forecast where to spend their marketing budget online. We hope businesses of all sizes will make the most of this platform to rebuild and succeed in the wake of Covid-19.”
The grant has enabled Modo25 to expand its team, including the appointment of an associate director of product and two junior marketing data analysts.
Innovate UK executive chair Dr Ian Campbell added: “In these difficult times we have seen the best of British business innovation. The pandemic is not just a health emergency but one that impacts society and the economy.
“BOSCO, along with every initiative Innovate UK has supported through this fund, is an important step forward in driving sustainable economic development. Each one is also helping to realise the ambitions of hard-working people.”