Invested in partnership with the Scottish Investment Bank (SIB), the money will help the Edinburgh-based company complete its expansion drive.

Founded in 2008, QueryClick employs 54 staff, who manage over £1 billion of client spend in 28 countries. It has well-known brands such as Aggreko, BT, EE and Vitality among its clients.

Its business mission is to transform how effectively advertisers invest in digital marketing. To facilitate this, the company has created a unique, machine learning-based attribution solution. This marketing software will allow companies to precisely allocate their investments in various marketing channels to ensure the maximum possible return on their investment.

The company will utilise the £2 million investment to recruit additional analysts and sales staff and to initiate a significant marketing effort to accelerate its growth in this fast-developing sector.

Founder and CEO of QueryClick, Chris Liversidge, said: “When digital marketing took off, everything was supposed to be measurable and optimisable – but, in fact, attribution has for years been digital marketing’s broken promise. We recognised that the emergence of machine learning offered a new opportunity for our industry to get attribution right for advertisers, who deserve better, and this investment gives us renewed impetus to take our unique solution out to them.”

Investment director at Archangels, Niki McKenzie, said: “Knowing which advertising works, and which doesn’t, has always been the holy grail for advertisers. QueryClick’s software is already proving its immense value to its early adopters, making us confident that, with the right support, QueryClick will prove to be another success story for Scotland in this fast-developing sector.”

Director of SIB, Kerry Sharp, added: “This investment will help QueryClick realise the full potential of its unique product offering in a dynamic and fast-growing market. Scottish Enterprise has been working with the company for 10 years, from the start-up phase through product innovation and organisational development, so it’s great to see the company expand and create more jobs. We look forward to working further with them on their continued growth journey.”