Madrid-based Seedtag, a company that offers a suite of contextual advertising solutions based in Machine Learning and Artificial Intelligences to brands, announced that it has raised $40M (approx €33.8M) in its Series B round of funding.
The company’s current round follows a $5.2M raise in its Series A round of funding, in 2017.
Investors in this round
The round was led by London-based Oakley Capital. It is a mid-market growth equity investor in Europe with more than $4B under management.
Speaking on the development, Peter Dubens of Oakley Capital, says, “An increasing focus on consumer privacy and brand safety is driving growth in contextual advertising, and we believe Seedtag is well-placed to harness this exciting opportunity thanks to a combination of best-in-class technology, strong commercial relationships, and an impressive management team.”
Additionally, the Series B round also saw participation from existing investors Adara Ventures and All Iron Ventures.
Seedtag claims to be the leader in contextual advertising in EMEA and LATAM. Hence, with the raised capital, the company plans to expand its services in the US and continue investing in its contextual AI technology.
Besides, the funds will also help the company to innovate and bring in new creative formats and placements to boost publishers’ revenues as well as expand the inventory by bagging more publishers.
What does Seedtag do?
Businesses around the world are now using the power of the internet to showcase their products and services for growth. But how do they reach you? It’s by that little “Accept cookies” button you click on while browsing different websites.
However, that one click has now impacted people who are raising concerns regarding their data privacy. Currently, a large volume of consumers are against cookie policies. Besides cookies, intrusive ads that hamper browsing is the other big issue among consumers. This is where contextual advertising firm Seedtag looks to leave its mark.
Founded in 2014 by Albert Nieto and Jorge Poyatos, the company aims to be the global contextual advertising partner for brands and agencies.
Seedtag witnessed significant growth in 2020 following further development and improvement of its product capabilities. Despite the pandemic, the company witnessed a year-on-year growth of 25 per cent, reaching revenues of $50M in 2020, and with a further 60 per cent growth forecast for 2021 ($80M).