CPE News (8/11/2020) – Hivestack has secured $10 million in Series A funding from Investissement Québec (IQ).
New funding will enable Hivestack to expand its workforce both in its Montreal headquarters as well as globally.
Founded by Chairman François de Gaspé Beaubien and CEO Andreas Soupliotis in 2017 and backed by private investors, Hivestack is a global, full stack, marketing technology company that powers the buy and sell-side of programmatic digital out-of-home (DOOH) advertising. Headquartered in Montreal Hivestack has global operations in Toronto, Tokyo, London, New York and Sydney.
In 2019, de Gaspé Beaubien and Soupliotis sold the assets of Ayuda Media Systems to Broadsign Canada, a portfolio company of Burr Smith family.
photo credit: Hivestack
Investissement Québec Invests $10M in Hivestack to Support Its Spectacular Growth
Global, ad tech leader receives Series A investment to fuel international expansion
MONTREAL (PRWEB) August 11, 2020
Hivestack, a global ad tech leader in programmatic digital out-of-home (DOOH) advertising, today announced that it has secured $10 million CDN in equity funding by Investissement Québec (IQ) to support its global expansion.
This significant funding will enable Hivestack to expand its workforce both in its Montreal headquarters as well as globally. Hivestack will continue to stimulate Quebec’s economy by actively recruiting in all business areas, with a strong focus on R&D (research and development).
Programmatic DOOH is a burgeoning field that offers marketers increased speed and flexibility. The ability to pause or reactivate campaigns in an “on and off” manner ensured minimal economic disruption during the pandemic. The gradual return of consumers outside of the home also offered interesting development and targeting opportunities in the field.
Guy LeBlanc, CEO of Investissement Québec said: “With this funding, we are happy to take an active part in the development and growth of Hivestack, here in Quebec and internationally. Their platform will enable advertisers, both in the public and private sectors, to reach their targeted audiences in an increasingly evolving context. Whether it is in technology, artificial intelligence or any other field, innovation and creativity will spearhead Quebec’s economic recovery.”
François de Gaspé Beaubien, Executive Chairman of the Board and Co-founder of Hivestack shared: “We are extremely proud to welcome Investissement Québec as our partner. Thanks to them, we will be able to accelerate the deployment of our platform at a global level. And we are especially proud that Montreal continues to be a hub for excellence and innovation thanks to the support of our government.”
Andreas Soupliotis, Founder and CEO of Hivestack, also commented: “Digital out-of-home (DOOH) advertising is one of the last, untapped frontiers for programmatic marketers. Today, the majority of DOOH advertising is bought directly between buyers and sellers. This is poised for a dramatic change with programmatic technology acting as the key growth driver. The rise of privacy-compliant location data, the desire for automation, and the demand for real-world attribution have created an environment where marketers are showing an increased propensity for programmatic DOOH to drive outcomes. Hivestack has shown phenomenal growth over the past three years while building great products that drive these new capabilities for our medium. We’re thrilled to partner with Investissement Québec to enable a new chapter in our history. The partnership will allow Hivestack to grow at an accelerated rate by hiring more amazing talent in Montreal and expand faster internationally.”
Highlights on Hivestack
Hivestack was created in September 2017 and its head office is located in Montreal.
It currently employs 42 people, including 33 in Quebec.
Hivestack also has offices in Toronto, Tokyo, London, New York and Sydney.
Hivestack is a global, full stack, marketing technology company that powers the buy and sell-side of programmatic digital out-of-home (DOOH) advertising. On the buy side, marketers use Hivestack’s Demand-Side Platform to create measurable campaigns that activate DOOH screens in real time based on consumer behaviour and audience movement patterns. On the sell-side, DOOH media owners use Hivestack’s Supply-Side Platform & Ad Exchange to attract programmatic revenue. DOOH media owners can also use Hivestack’s Ad Server to power audience-based, directly sold campaigns. Attribution is a first class-citizen throughout Hivestack’s platform, offering buyers and sellers the ability to measure business outcomes at all stages of the consumer sales funnel.
Hivestack is headquartered in Montreal, Canada, and has global operations in Toronto, Tokyo, London, New York and Sydney.
For more information, please visit https://www.hivestack.com
About Investissement Québec
Investissement Québec’s mission is to actively participate in the economic development of Quebec by stimulating innovation in businesses, entrepreneurship and buyers, as well as the growth of investment and exports. Active in all administrative regions of Quebec, the Company supports the creation and development of businesses of all sizes through investments and adapted financial solutions. Investissement Québec also supports businesses through consulting services and other support measures, in particular technological support offered by Investissement Québec – CRIQ. Also, thanks to Investissement Québec International, the Company supports companies in export matters and leads the prospecting of talent and foreign investments in Quebec.
Senior Director, Media and Government Affairs