Less than a year after launching, South African creative technology startup delvv.io has successfully concluded a first-round funding, securing R6.5 million.
Delvv.io crowdsources professional feedback on advertising and marketing campaigns. The platform provides advertising agencies and brands the ability to get early-stage input on creative concepts, storyboards, apps and websites from an extensive network of independent specialists.
The aim is to help firms reduce the costs of testing new campaigns, and taking existing campaigns to new markets, while improving campaign performance.
Investment is led by African boutique investment and advisory firm HAVAIC, together with funding from UK-based investor Kevin Gaskell.
“We identify scalable early-stage businesses like delvv.io that have international potential – something that isn’t perceptible just by scrutinising a balance sheet,” said Ian Lessem, CEO of HAVAIC.
“Entering the funding phase is exciting because it means we can go-to-market faster and start international expansion. It is also frustrating as most venture capital funders in South Africa prefer mature and steady businesses while investing at an early-stage valuation,” said Trevor Wolfe, co-founder of delvv.io.
Delvv.io has signed 25 brand clients in South Africa, Asia and North America since launch, while increasing revenue by 150% in that time, and staff complement to seven.
The company is eyeing multinational fast-moving consumer goods, tech and automotive clients, an expanded product suite and compound annual growth over 50% within five years of opening its doors.