Finnish adtech firm Smartly.io raises $20 million from Highland Europe

jkeane90@gmail.com

Smartly.io, a Finnish-founded adtech company has raised $20 million led by Highland Europe.

Smartly develops SaaS-based automation tools, such as Creative Automation, for carrying out Facebook and Instagram ad campaigns. According to the company, it has been profitable for two years. Its clients include eBay, Zillow, SkyScanner, and Deliveroo who use the solution to run their Facebook ads.

“Everyone is an owner at Smartly.io and a secondary round was a way for us to reward the entire team and take off any pressure to sell or IPO,” said Kristo Ovaska, CEO of Smartly.io on the investment from Highland Europe.

“We, in return, gained a partner that will help us take our business to the next level through their network, by helping us build out a global leadership team and with access to a large fund if we ever need capital for acquisitions or more aggressive expansion,” he added.

“Social’s share of ad spend is only growing, and we’re excited to become a part of Smartly’s continued growth alongside it,” said Irena Goldenberg, general partner at Highland Europe.

The company previously raised €2.5 million in funding and is based in Helsinki with offices in Berlin, New York, Singapore, San Francisco, Dubai, and Buenos Aires.

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.