Spanish-born adtech Seedtag, a leader in contextual advertising in Europe and Latin America, announces the raising of a contribution of more than €250 million euros from private equity investor Advent International.
With the contribution, the company intends to scale its Contextual Artificial Intelligence technology, LIZ®, in addition to investing in innovation and global operation, accelerating its expansion in the United States – the world’s largest advertising market, and potentially leveraging possible M&A activities along its international growth journey. Adtech’s goal is to become the global partner in contextual advertising for brands and publishers.
This investment drives adtech’s expansion strategy, which recently acquired the French company KMTX (formerly Keymantics), which specializes in building AI models to optimize and automate performance marketing campaigns. Also recently, in September 2021, Seedtag raised $40 million in a Series B round led by Oakley Capital. As part of the transaction, Seedtag’s major existing institutional investors (Oakley Capital, Adara and All Iron Ventures) will remain investors, supporting the company in its next phase of growth.
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“We are excited about this partnership with Advent International, as this investment will accelerate expansion in the United States, as well as drive our growth, strengthen our team and develop our technology,” says Jorge Poyatos, co-founder and co-CEO of Seedtag.
“This investment brings us great support to fulfill our mission to build the leading global platform for contextual advertising, which provides an effective solution for cookie-free advertising on the open web,” adds Albert Nieto, also co-founder and co-CEO of Seedtag.
Jorge Poyatos and Albert Nieto continue as investors, leading the business both at the Spanish head office, located in Madrid, and at the United States, located in New York.
Over the past eight years, Seedtag has built an advertising solution that prioritizes “privacy first”, pioneering the use of Artificial Intelligence and machine learning to create contextual solutions that give advertisers a deeper understanding of users’ interest without the use of personal data.
“Seedtag has established itself as a leading company in Europe and Latin America in the contextual advertising sector, so we are very pleased to partner with Jorge and Albert. With our international presence and deep industry knowledge, Advent will work with Seedtag’s management team to expand further internationally. We look forward to supporting this exciting business, growing, climbing and taking it to the next level,” concludes Gonzalo Santos, Managing Director of Advent International.
LionTree served as Seedtag’s exclusive financial advisor. Kirkland & Ellis served as legal advisors to adtech. Uria and Citigroup were advisors to Advent International.
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