Optable, a Canadian adtech startup, recently announced that it has successfully raised US$20 million in its Series A funding round. The company offers a software-as-a-service (SaaS) data collaboration platform and clean room solution for the advertising industry. A syndicate of investors invested in the round, including Brightspark Ventures, Deloitte Ventures, Desjardins Ventures, Hearst Ventures, asterX, and others. Montreal-based Optable will use the funds to further enhance its services and expand its market reach.
Optable offers a unique solution for advertisers and publishers by providing them with a privacy-first ad targeting and measurement platform. The platform helps advertisers to deliver more relevant ads to their target audience while respecting their privacy. Optable has designed its solution to comply with privacy regulations such as GDPR and CCPA. It ensures that advertisers can effectively target their audience without compromising user privacy.
“Optable has made enormous progress in delivering a privacy-centric, transparent, and interoperable solution to the market. Having such a great and diverse syndicate of strategic investors validates our approach. We look forward to collaborating with them to accelerate our expansion strategy and drive real results for our rapidly growing customer base across the globe.”
Yves Poiré, co-founder and CEO, Optable
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Canadian adtech startup built for the privacy-first world
As third-party cookies vanish, mobile IDs are updated, and new privacy laws are introduced, the advertising ecosystem is experiencing a drastic change in how audience data may be used. In order to safely compare and use audience data to assist plan, activate, and measure campaigns, adtech players urgently require new solutions. These include advertisers, publishers, and the entire adtech ecosystem. In light of this, Optable has seen a demand for its solutions on a global scale.
“Optable’s innovative and privacy-centric approach to data collaboration is essential to help advertisers navigate the evolving digital advertising landscape. We are thrilled to invest and support their mission to empower the industry with effective solutions as they continue to gain traction in the US market and beyond.”
Darcy Frisch, Managing Director and VP, Hearst Ventures
Optable will utilize the money generated to increase the size of its sales and marketing staff to meet this need. It will also use the new funding to expand its team and invest in research and development to further enhance its platform’s capabilities.
Optable’s co-founders, Yves Poiré, Vlad Stesin, and Bosko Milekic, have worked together before. Samsung Ads acquired their last venture, AdGear, in 2016. Optable currently has customers in Canada, the US, Europe, and Japan.
