Madrid-based Seedtag has raised $40 million in a Series B funding round. $35 million of this round arrives via Oakley Capital, a figure that provides the investment firm with a significant minority stake in the company. Using machine learning and AI technologies, Seedtag provides brands with a range of contextual advertising solutions. The funding is expected to further develop its AI technology, target and onboard more publishers, and expand into the US market.
With the oncoming shift towards consumer privacy and GDPR rules, the third-party cookie that brands have relied on for years is on its way to becoming obsolete. Which, of course, leaves vendors with a new quandary to solve, how to still effectively target consumers, without leveraging the use of their browser history.
Founded in 2014, Seedtag works on a cookie-less ethos, rather, using a proprietary machine-learning engine that can analyse 10,000 articles a minute and provide a human-like understanding. This analysis can then be translated into a better understanding of consumer interests, and thus, delivery of targeted advertising.
A specialist in Europe and Latin America, Seedtag has established relationships with brands including Universal and Adidas, agencies such as WPP and Havas, and premium publishers including the FT, The Guardian, and Sky, reaching a combined audience of over 500 million unique users.
The investment from Oakley is developed out of a long-standing relationship between Seedtag’s founding team, and the investment firms’ partners.
“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,” commented Oakley Capital’s Peter Dubens.
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