Swedish adtech firm BrightBid targets London’s start up scene

BrightBid claims to offer an antidote to the rapid cost inflation across Google's ad network, with AI-powered bidding technology to help smaller firms compete in a crowded market.

Adtech platform for Google Advertising, BrightBid has expanded to London as part of a global growth drive.

Founded in 2020, the Swedish company has grown close to 400% in revenue year-on-year and helps PPC and marketing teams scale up performance on Google Search Ads using its proprietary AI technology.

Adding a layer of exclusive first party data to boost Google bid predictions

The idea of BrightBid came about when close friends, Gustav Westman and Marcus Möller saw the need to help businesses deliver optimised campaigns with Google Search Ads and compete in an increasingly crowded environment.

With the appointment of CTO Edmund Aldrich de Leon in 2021, they developed an AI engine that works alongside Google’s automation and first-party data to find the best performing keywords, enhance bidding adjustments and generate more revenue, leads and customers.

Gustav Westman, the Founder and new CEO of BrightBid, said: “Our ambition is to help businesses large and small across the UK compete with growing PPC costs and deliver optimised cost-effective campaigns using the AI-driven technology that we’ve developed”

“We want to service our growing UK clientbase from our new London HQ, and build on the company’s rapid growth following huge success in Europe supporting companies such as LeadPilot and MoneyPenny,” Westman added.

“B2B marketers are seeing very high performance lifts”

BrightBid said its internal data shows that its AI- and human-led offering helps companies deliver an average 20% increase in conversions.

“The AI engine works for all types of Paid Search advertisers but B2B marketers are seeing very high performance lifts as the Google CPC's for this advertiser group have been especially challenged with the pandemic as competition has intensified,” added Marcus Möller, Co-Founder and Chief Commercial Officer.

“The migration to online marketing has grown rapidly in the last 2 years which in turn is driving Google cost inflation in key verticals - we’re confident that our offering can help companies take their online presence to the next level without scaling costs,” concluded Möller.

BrightBid recently raised £2m in a seed round from a number of seasoned tech and SaaS company founders, including Filip Lilja, co-founder of autonomous trucking company Einride, Mikael Lindblom, co-founder and former CEO of invoice management SaaS company Medius, and Thor-Olof Philogène, founder and CEO of enterprise insights SaaS company Stravito as well as former CRO at iZettle.

This is part of a fundraising drive to support the development of the platform and appoint new hires - including growth to the marketing team, investment in the London office, and continued focus on developing new business.

BrightBid offers a free audit to outline the expected increases in conversions associated with using their AI driven system and works with clients hand in hand to quickly train the AI engine to achieve improved results in 30 days.