Optable – a Software-as-a-Service (SaaS) data collaboration platform and clean room solution designed for the ad ecosystem – announced that it has raised $20 million in Series A financing from a syndicate of investors which includes Hearst Ventures, Brightspark Ventures, Desjardins Capital, Deloitte Ventures, asterX, and others.
The ad ecosystem has been experiencing a radical transformation in how audience data can be used as third-party cookies disappear, mobile IDs experience an overhaul, and new privacy legislation spreads. This process is creating an immediate and pressing need for new solutions to enable advertisers, publishers, and the entire adtech ecosystem to securely compare and leverage audience data to help plan, activate, and measure campaigns. As a result, Optable has experienced global demand for its solutions and will use the funds raised to expand its sales and marketing team to serve this need.
Optable’s co-founders Yves Poiré, Vlad Stesin and Bosko Milekic are long-time collaborators with Optable being the second business they have founded together. And their last venture AdGear was acquired by Samsung Ads in 2016. Optable now work with customers in Canada, the US, Europe, and Japan.
Optable and Hearst have also entered into a commercial agreement that will enable Hearst to amplify the value of their first party data through Optable’s advanced data clean room approach. And the collaboration will also enable interoperability with other data clean room solutions, allowing advertisers to benefit from a wider range of data sources.
The company is leading the way in making the data clean room approach to collaboration easier and more efficient for the advertising ecosystem. And the new funding round will enable it to scale up its global presence, technical talent, and product development, focusing on building new data collaboration solutions to address the needs of the industry.
KEY QUOTES:
“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
“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
“With Optable’s sophisticated technology, we can provide marketers increased performance by leveraging high-quality data to power planning, activation and measurement. This partnership will also offer our clients the ability to utilize their first-party data in a clean room environment and optimize their marketing efforts and better serve their customers.”
- Michael Nuzzo
