Adweek, Ronan Shields

April 10, 2019

Adform, the Copenhagen-based ad-tech outfit, has announced an undisclosed funding-injection from private equity firm GRO Capital, just months after the company shelved earlier plans for an initial public offering. 

Original text:

Adform Reveals Funding Round to Position Itself as the Independent Alternative to Walled Gardens

Adform, the Copenhagen-based ad-tech outfit, has announced an undisclosed funding-injection from private equity firm GRO Capital, just months after the company shelved earlier plans for an initial public offering. The timing of the announcement, which was made late last week, was within a week of Sizmek, a rival ad-tech outfit which likewise attempted to position itself as a full-stack alternative to walled gardens such as Facebook and Google, filing for voluntary bankruptcy.

Oliver Whitten, Adform’s COO, told Adweek the proceeds of GRO’s investment will be used to accelerate its global expansion both in terms of hiring in the North American market, fortifying its integrated stack, which includes an ad server, data management platform and demand-side platform–a tech stack similar to Sizmek’s.

“It’s a perfect timing for us to raise the funds, given that one of our largest competitors is facing a challenging time at the moment and we have a significant influx of potential clients and we want to use this investment to ensure that we deliver for them both in the near term and longer term,” he said.

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