Nick Morley has been appointed as the new CEO of Lunio, a Manchester-based adtech company.
- Previously the chair of Lunio, Morley is set to continue the company’s growth and expand its geographical reach.
- With over 8.5% of traffic being invalid, businesses are losing significant revenue, making Lunio’s role crucial.
- Morley’s extensive experience includes pivotal roles at Adobe and Integral Ad Science, driving the company’s success.
- Lunio secured $15 million in Series A funding in 2022, backed by major investors.
Nick Morley, a seasoned professional in the adtech industry, has transitioned from his role as chair to the CEO of Lunio. His appointment marks an important step for the Manchester-based company, as it seeks to grow its market presence and broaden its geographical footprint. Neil Andrew, the company’s founder, will now focus on strategy as the Chief Strategy Officer.
Morley brings valuable expertise from past roles at major companies like Adobe and Integral Ad Science. He highlights a pressing issue for the advertising sector: rising invalid traffic rates. These invalid rates are draining up to $71 billion annually from global advertising budgets due to wasted spending. For example, in a scenario where a company allocates $1 million with a 3:1 return on ad spend, even a 5% rate of invalid traffic results in $50,000 lost annually, along with $150,000 in missed potential revenue.
By leveraging Lunio’s capabilities, businesses can better manage their ad expenses by targeting genuine prospects and diminishing waste. This efficiency is critical as average invalid traffic rates now exceed 8.5%. Morley emphasizes Lunio’s potential to become a top choice for performance marketers who need control and transparency over their campaigns.
The company’s Series A funding round in September 2022 raised $15 million, with support from Smedvig Capital and Praetura Ventures, as well as an angel fund from leaders at Google and Warner, showcasing confidence in Lunio’s future. Investors like Joe Knowles from Smedvig Capital and Colin Greene from Praetura Ventures express strong support for Morley’s strategic plans and vision.
Morley notes the creativity and dedication of Lunio’s team, aiming to guide them toward further growth and innovation. Working closely with management, he aims to enhance the value advertisers obtain from their marketing budgets. The company seeks to align closely with the needs of its customers, ensuring long-term success and leadership in addressing invalid traffic challenges.
Nick Morley is poised to lead Lunio through a new chapter, focusing on reducing invalid traffic and driving business growth.
