Multi-channel programmatic advertising platform StackAdapt raises $235 million

Toronto-based programmatic advertising platform StackAdapt has announced securing $235 million in growth capital, with Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of the Ontario Teachers’ Pension Plan, leading the investment. Additional participation came from Intrepid Growth Partners and four other investors. This significant funding round follows a $300 million investment by Summit Partners in 2022 and raises the company’s total funding to over $500 million.

Founded in 2014 by Vitaly Pecherskiy, Yang Han, and Ildar Shar, StackAdapt aims to modernize programmatic advertising by integrating AI-driven automation and a user-friendly interface to enhance marketers’ operations. With its headquarters in Toronto and over 1,300 employees worldwide, StackAdapt serves 19 global markets. The newly secured investment will be directed towards advancing research and development, driving innovation, and expanding the company’s presence in marketing technology.

Rick Prostko, Senior Managing Director at TVG, emphasized StackAdapt’s continued growth and leadership in AI-driven advertising technology, highlighting the company’s strong market performance and customer-focused approach. Mark Machin, Managing Partner at Intrepid Growth Partners, expressed enthusiasm over making StackAdapt its first investment, pointing to the company’s achievements in leveraging AI to advance advertising solutions.

J.P. Morgan and RBC Capital Markets acted as lead and co-placement agents, respectively, for the funding round.