Hivestack, a Montreal-based advertising technology company, has raised C$10 million in a Series A financing. The investor was Investissement Québec. Founded in 2016, Hivestack helps marketers target audiences by programmatically activating digital out-of-home and mobile media.
PRESS RELEASE
Montréal, August 11, 2020 – Hivestack, a global ad tech leader in programmatic digital out-of-home (DOOH) advertising, today an-nounced that it has secured $10Million in equity funding by Investissement Québec (IQ) to support its global expansion.
This significant funding will enable Hivestack to expand its workforce both in its Montreal headquarters as well as globally. Hivestack will continue to stimulate Quebec’s economy by actively recruiting in all business areas, with a strong focus on R&D (research and development).
Programmatic DOOH is a burgeoning field that offers marketers increased speed and flexibility. The ability to pause or reactivate campaigns in an “on and off” manner ensured minimal economic disrup-tion during the pandemic. The gradual return of consumers outside of the home also offered interest-ing development and targeting opportunities in the field.
Quotes
Guy LeBlanc, CEO of Investissement Québec said: “With this funding, we are happy to take an ac-tive part in the development and growth of Hivestack, here in Quebec and internationally. Their plat-form will enable advertisers, both in the public and private sectors, to reach their targeted audiences in an increasingly evolving context. Whether it is in technology, artificial intelligence or any other field, innovation and creativity will spearhead Quebec’s economic recovery.”
François de Gaspé Beaubien, Executive Chairman of the Board and Co-founder of Hivestack shared: “We are extremely proud to welcome Investissement Québec as our partner. Thanks to them, we will be able to accelerate the deployment of our platform at a global level. And we are especially proud that Montreal continues to be a hub for excellence and innovation thanks to the support of our government.”
Andreas Soupliotis, Founder and CEO of Hivestack, also commented: “Digital out-of-home (DOOH) advertising is one of the last, untapped frontiers for programmatic marketers. Today, the majority of DOOH advertising is bought directly between buyers and sellers. This is poised for a dramatic change with programmatic technology acting as the key growth driver. The rise of privacy-compliant location data, the desire for automation, and the demand for real-world attribution have created an environ-ment where marketers are showing an increased propensity for programmatic DOOH to drive out-comes. Hivestack has shown phenomenal growth over the past three years while building great products that drive these new capabilities for our medium. We’re thrilled to partner with Investisse-ment Québec to enable a new chapter in our history. The partnership will allow Hivestack to grow at an accelerated rate by hiring more amazing talent in Montreal and expand faster internationally.”
Highlights
Hivestack was created in September 2017 and its head office is located in Montreal.
It currently employs 42 people, including 33 in Quebec.
Hivestack also has offices in Toronto, Tokyo, London, New York and Sydney.
About Hivestack
Hivestack is a global, full stack, marketing technology company that powers the buy and sell-side of programmatic digital out-of-home (DOOH) advertising. On the buy side, marketers use Hivestack’s Demand-Side Platform to create measurable campaigns that activate DOOH screens in real time based on consumer behaviour and audience movement patterns. On the sell-side, DOOH media owners use Hivestack’s Supply-Side Platform & Ad Exchange to attract programmatic revenue. DOOH media owners can also use Hivestack’s Ad Server to power audience-based, directly sold campaigns. Attribution is a first class-citizen throughout Hivestack’s platform, offering buyers and sellers the ability to measure business outcomes at all stages of the consumer sales funnel.
Hivestack is headquartered in Montreal, Canada, and has global operations in Toronto, Tokyo, London, New York and Sydney.
For more information, please visit https://www.hivestack.com
About Investissement Québec
Investissement Québec’s mission is to actively participate in the economic development of Quebec by stimulating innovation in businesses, entrepreneurship and buyers, as well as the growth of invest-ment and exports. Active in all administrative regions of Quebec, the Company supports the creation and development of businesses of all sizes through investments and adapted financial solutions. In-vestissement Québec also supports businesses through consulting services and other support measures, in particular technological support offered by Investissement Québec – CRIQ. Also, thanks to Investissement Québec International, the Company supports companies in export matters and leads the prospecting of talent and foreign investments in Quebec.
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