Seedtag Raises Over €250M From Advent International
by on 27th Jul 2022 in News
Seedtag, the leader in contextual advertising in EMEA and LATAM, has announced that it has raised over €250m (£211m) in funding from private equity investor Advent International.
The company intends to use the funds to further scale its Contextual AI technology, LIZ©, as well as for innovation and worldwide operations, advancing its expansion into the USA, the world’s largest advertising market, and providing additional firepower for further M&A activity as Seedtag embarks on its next phase of international growth. Growth in the United States is a key strategic focus, with Albert Nieto, co-CEO and co-founder of Seedtag relocating, and offices in New York, Miami, Chicago, and Los Angeles now established.
Over the past eight years, Seedtag has built a privacy-first advertising solution, pioneering the use of AI and machine learning to create the best contextual product in the market. Seedtag's solution is currently the leading contextual solution in Europe and Latin America, with its AI and programs such as Seedtag LAB providing advertisers with a much deeper understanding of user interest without the use of personal data.
Seedtag aims to continue moving forward on its mission to become the global contextual advertising partner for brands and publishers. This investment represents a large step forward, following the outstanding success during the past year. This includes the acquisition of KMTX (previously Keymantics), a leading French ad tech company specialised in building AI models to optimise and automate performance marketing campaigns, and securing funding from Oakley Capital last year.
As part of the transaction, Seedtag’s core existing institutional investors - Oakley Capital, Adara, and All Iron Ventures – will remain investors, supporting the company in its next phase of growth.
Jorge Poyatos and Albert Nieto, co-founders and co-CEOs of Seedtag, will continue as investors, leading the business from both its Spanish and US headquarters.
Poyatos and Nieto stated: “We’re very excited about this partnership with Advent. This investment will massively accelerate our US expansion, boost our growth and reinforce our team and the development of our technology. This move further supports our mission of building the global leading platform for contextual advertising, offering an effective solution for cookieless advertising on the open web.”
Gonzalo Santos, managing director at Advent International and head of Spain, said: “Seedtag has established itself as a leading player in Europe and Latin America in the very dynamic contextual advertising sector. We are delighted to partner with Jorge and Albert as they continue to build on this momentum. With our international presence and deep sector expertise, Advent will work with the Seedtag management team to further expand the business internationally. We look forward to supporting this hugely exciting business to grow and scale-up and to taking it to the next level.”
LionTree acted as exclusive financial advisor to Seedtag. Kirkland & Ellis acted as legal advisor to Seedtag. Uria and Citigroup acted as advisors to Advent.
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