LARA Media Group (LARA MG), a British media company headquartered at 4 Maddox Street, London, United Kingdom, wants to invest in a Birmingham-based software development company.
According to Valeriia Overkovska, Business Manager at Cleveroad, the Birmingham-based tech startup specialising in cross-platform cloud solutions has developed a unique technology that LARA Media Group is interested in deploying in the digital publishing market.
“We develop custom software and applications for B2B and B2C sectors and have been working with startups in logistics, retail, media and entertainment, and even healthcare for some time now”, explains Vitaly Kuprenko, the company’s spokesman. “LARA Media Group’s investment in Cleveroad will help us further develop our proprietary SEO ranking algorithm and upgrade the infrastructure required by the next generations of semantic search engines,” continued Kuprenko.
“Operating a global network of digital media publishers in over 53 countries and powering top fashion and beauty magazines like LLC-A, LA Style, WTVOX, Hong Kong Style, The VOU, Horoscope Today, Hairstyle Magazine, Home of Jewelleries, Wardrobe of Tomorrow, and Moda Latin America, LARA MG sees innovation in artificial intelligence as part of the company’s future”, explains Eamon Kunze, the company’s spokesman.
LARA Media Group’s primary services include cloud-based hardware-software infrastructure for digital publishers, PR services to fashion and beauty influencers, on-chain digital records and identity for luxury fashion labels, publishing apps and dapps, social media conversation platforms, and search engine ranking algorithms.
From sources to be confirmed yet, the deal is around 1.1 million USD and revolves specifically around a proprietary SEO algorithm developed by the Birmingham company. When asked to detail the value and investment nature, Kuprenko stated that:
“In the tradition of its founders, who cherish media, sustainable development, and technological innovations, LARA Media Group is carving a new pathway of digital journalism. We are proud they’ve chosen Cleveroad to be part of their future.”
And we couldn’t agree more; it is always a source of pride seeing a local company providing top-level software support to a global media company that competes with the likes of Conde Nast and VOX Media. Well done, Cleveroad!