AI-based adtech startup Seedtag has secured more than $252 million in funding. Among other things, the company will use the money to further scale its Contextual AI technology.
Seedtag, a Madrid, Spain-based leader in contextual advertising in EMEA and LATAM, raised over €250 million (more than $252 million, exact amount unspecified) in funding.
The money was invested by Advent International. As part of the deal, Oakley Capital, Adara, and All Iron Ventures, three of Seedtag’s primary current institutional investors, will continue to participate in the business and help it develop in the future.
The firm plans to use the money to further develop its Contextual AI platform, LIZ, further its US expansion, for innovation and global operations, and provide more resources for future M&A activity as Seedtag enters its next stage of global expansion.
With Albert Nieto, co-CEO and co-founder of Seedtag, migrating and offices already established in New York, Miami, Chicago, and Los Angeles, growth in the United States is a primary strategic goal.
There are employs more than 300 people worldwide. The company has offices in Spain, Italy, France, the United Kingdom, Germany, Benelux, Mexico, Colombia, Brazil, the UAE, Argentina, Chile, and the United States. With the help of artificial intelligence (AI) and machine learning, Seedtag has developed a contextual product that is used in Europe and Latin America. Led by co-founders and co-CEOs Jorge Poyatos and Albert Nieto, Seedtag has built a privacy-first advertising solution that uses AI and machine learning to create a contextual product.
Seedtag recently acquired KMTX (formerly Keymantics), a French adtech startup that specialises in developing AI models to automate and enhance performance marketing campaigns.