MADRID, July 27, 2022 /PRNewswire/ -- Seedtag, the leader in contextual advertising in EMEA and LATAM, has today announced that it has raised over €250M 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 US, 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 French adtech company KMTX (previously Keymantics), a leading French company specialized in building AI models to optimize 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.
Jorge Poyatos and Albert Nieto, co-founders and co-CEOs of Seedtag, 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.
Seedtag is the leading Contextual Advertising Company that creates highly impactful and engaging solutions for relevant premium visual content, powering targeting and returns for top publishers and the finest brands. The company's contextual A.I. allows brands to engage with consumers within their universe of interest on a cookie-free basis.
Seedtag was founded in Madrid in 2014 by two ex-Googlers who wanted to get the most out of editorial images and to this day it is a global company that more than 300 employees and an important international presence with offices in Spain, France, Italy, UK, Benelux, Germany, Mexico, Brazil, Colombia, United Arab Emirates, Argentina, Chile and the US.
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 395 private equity investments across 41 countries, and as of March 31, 2022, had €68.6 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of 270 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
Advent is an experienced investor in the media, marketing and digital transformation sectors, with deep expertise and global experience. Relevant investments in this space include Ansira, a Leading data-driven, technology-enabled marketing solutions provider, specializing in the integration of local and national marketing programs; CI&T, the leading provider of digital transformation services in Brazil; Encora, a global digital engineering services company specializing in software product development; Nielsen IQ, a comprehensive data, analytics and insights company for global retailers and brands and Tag, an omnichannel content production partner.
Advent began investing in Spain in 1990, making it one of the first international private equity firms to operate in the Iberian Peninsula and has invested over €900 million in the country in total to date.