London – Infinity Tracking Ltd (“Infinity”) www.infinity.co, one of the fastest growing marketing technology businesses in the UK, and a market leader in call tracking, announced that it has secured £10 million of funding from Smedvig Capital.
Call tracking evolved from the need to identify which online marketing campaign investment delivers real sales. Infinity enables clients to track calls from their website and analyse exactly which marketing activity resulted in which sales and optimises the chance of those sales closing.
The strength of the market opportunity for Infinity is evidenced by rapidly increasing search and display advertising spend across the world, combined with ever increasing calls to businesses – US market growing 16% p.a. to 160 billion calls in 2019 – driven by smart phone usage according to BIA / Kelsey.
Infinity has already established itself as a pioneer in call tracking, supporting marketing, sales and operations across a strong client base in the UK and US. It has excellent agency partnerships, strong technology and broad third party integrations. This investment will facilitate further product innovation and allow the business to continue to build on its drive for customer success.
Paul Walsh, Infinity’s CEO, previously created one the UK’s fastest growing independent digital agencies and founded Infinity when they couldn’t find a call tracking solution for their own clients. Paul commented: “Infinity has been bootstrapped to date but we have still managed to grow extremely rapidly. This injection of funding will now enable us to invest heavily in our product offering and accelerate our US expansion plans.”
Warren Newbert recently joined the business as COO with considerable experience of working with high growth, venture backed, technology businesses. Warren commented: “Infinity is already a successful business but the opportunity for growth is limitless and potentially we will look to acquire other technology or people as well as pursuing our ambitious organic plans.”
Jon Lerner, Managing Director at Smedvig Capital, commented: “We are excited to be backing Paul, Warren and their team as the business starts to rapidly build on a very solid base in the UK and US. They have a great team, a strong market position and a clear vision of where the business is going. We are very much looking forward to working closely together to build a category leader.”
About Smedvig Capital:
Smedvig Capital was founded in 1996 and has invested over £750m of internal capital. We invest £2-15m in fast-growing innovative businesses, backing ambitious teams with the potential to become market leaders. The team at Smedvig have a shared passion for working with entrepreneurs, and a common belief that deeper involvement leads to greater success.
Our model is to invest in a small number of businesses each year, and then commit time to working closely with management, providing advice and hands-on support.
Recent investments include Captify, the leader in search retargeting; TrialReach, the world’s largest provider of clinical trial information; specialist home rental company, Veeve Unique; and global content creators, Quill.