IO applies automated machine learning across massive data sets at extreme speeds to execute the best possible real-time media-buying decisions for online advertisers. Launched in 2013, the platform is now live with customers and this year will see international offices opened as the business begins to scale.IO Technologies was founded in May 2013 by Raoul Witherall, who recruited Alex Nicholson, former chief IT architect at the Met Office to design and build the technology. The business, says Witherall, ?addresses a massive market that is still highly inefficient.? The global online display advertising market will grow from $40bn to $70bn over the next four years. In 2014, IO plans to open offices in San Francisco and New York with Hong Kong and Germany following. IO has secured ?1m+ of early stage funding from UK technology investors and will close Series A institutional investment within the next six months. IO has created 20 high-quality jobs in the south-west, and is set t0 grow to 55 in the UK by December 2014. ?We want to see IO stimulate the creation of a centre of big data analytics excellence in Plymouth benefitting the local and wider UK economy,? says Witherall.
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