Nick Morley becomes the new CEO of Lunio, stepping up from his role as board chair.
- Morley intends to address the rising issue of invalid traffic impacting advertisers.
- Lunio strives to enhance the quality of digital ad traffic and performance marketing.
- Company founder Neil Andrew transitions to Chief Strategy Officer.
- Lunio secures $15 million in Series A funding to support growth.
Nick Morley has assumed the role of CEO at Lunio, a Manchester-based adtech company. Previously serving as the board chair, Morley is tasked with guiding the company’s growth and extending its reach globally. His background includes leadership roles at Adobe and Integral Ad Science, providing him with substantial experience in go-to-market strategies.
Morley is focused on addressing the increasing problem of invalid traffic, which affects businesses across various sectors by inflating advertising costs and reducing revenue. He highlights that invalid traffic rates now average over 8.5%, leading to significant wasted ad spend. For instance, a business with a $1M ad spend and a 3:1 return ratio might lose $50,000 annually due to a 5% invalid traffic rate, alongside $150,000 in lost revenue.
Lunio’s mission is to empower performance marketers by improving digital ad traffic quality. Their solutions are designed to identify and eliminate unnecessary traffic, therefore optimising ad spend and enhancing engagement with genuine customers.
Neil Andrew, the company’s founder, shifts to the role of Chief Strategy Officer, leveraging his expertise to assist in Lunio’s strategic direction. This leadership change is part of an ambitious plan to establish Lunio as a leading partner in the performance marketing sector.
The company secured $15 million in Series A funding last year, supported by investors like Smedvig Capital and Praetura Ventures, to fuel its expansion. Joe Knowles of Smedvig Capital and Colin Greene of Praetura Ventures expressed strong support for Morley’s vision and leadership.
Looking ahead, Morley is enthusiastic about collaborating with Lunio’s creative team, ensuring their solutions continue to meet the evolving needs of advertisers. He remarks, “We’ll continue to be driven by the needs of our customers, ensuring that our solutions help advertisers to consistently drive more value from their performance marketing budgets.”
Nick Morley’s appointment signals a strategic effort to confront invalid traffic, paving the way for Lunio’s continued growth and innovation.
