Israeli adtech company Perion buys Ukrainian AI startup Captain Growth for $3.75 million

andrii@tech.eu

Perion Network, an Israel-based internet company, has acquired Ukrainian AI startup Septa Communications, better known as Captain Growth; Perion stated that the total amount of the deal is $3.75 million, which consists of a cash payment at closing and earn-outs that are to be paid within two years provided the startup reaches its performance goals.

Perion plans that the startup will complement Undertone, a “synchronised digital branding” platform that the Israeli company bought in 2015 for $180 million.

Launched in 2017, Captain Growth is a platform that analyses the performance of Facebook and Google AdWords ads and provides the user with recommendations on how to improve the efficiency of a campaign. The recommendations can be applied automatically in one click.

“With Captain Growth’s proprietary ‘Value Unlock’ technology, our synchronization will now give brands the critical ability to benefit from putting the best-performing units in front of the right users at the right time — for unprecedented cross-channel engagement,” said Doron Gerstel, CEO of Perion.

Share this:
Share on linkedin
Share on facebook
Share on twitter

Get exclusive access to news, data and actionable insights on the European Tech innovation ecosystem(s)

By subscribing to Tech.eu, you gain instant access to curated European technology news, market intelligence and interviews with leading startup founders, investors and more. Sign up now in under a minute to deepen your knowledge on the European Tech innovation ecosystems on a daily basis.