Smartly.io, a leading global creative and digital advertising platform, announced on December 18, 2019, that it had raised €200 million in a majority investment from funds advised by Providence Equity Partners (“Providence”). Providence is a premier private equity firm that specializes in the media, communications, education, and information industries.
Smartly.io’s platform helps marketers create, manage, and optimize social media ad campaigns. It offers a variety of features, including creative tools, ad management, and campaign reporting. Smartly.io works with many of the world’s leading digital advertisers, including Unilever, PepsiCo, and Nestlé.
The investment from Providence will help Smartly.io accelerate its growth through acquisition and organic investment. The company plans to continue to build out its leading multi-platform advertising solution that combines creative production and media optimization. Smartly.io also plans to expand its global presence and reach new markets.
In an interview with TechCrunch, Smartly.io CEO and Founder Kristo Ovaska said that the company is excited to partner with Providence. He said that Providence’s expertise in the media and technology industries will be invaluable to Smartly.io as it continues to grow.
“By partnering with Providence, Smartly.io gains invaluable strategic advisory, deep operational experience, and market insight, especially in the U.S. where major Fortune 500 companies are only starting to automate their creative processes,” said Ovaska. “We envision Smartly.io as the number one digital advertising platform for all marketers, and one that allows teams to leverage enhanced creative capabilities to supercharge and optimize their campaigns.”
The investment in Smartly.io is the latest example of Providence’s interest in the digital advertising space. In recent years, Providence has invested in a number of other digital advertising companies, including Taboola, Outbrain, and Mediaocean.
Providence’s investment in Smartly.io is a sign of the company’s strong growth potential. Smartly.io is well-positioned to benefit from the continued growth of social media advertising and the increasing demand for creative and effective digital advertising solutions.