Canadian venture capital firm BEST Funds has invested C$3 million (US$2.9 million) in AcuityAds Inc. AcuityAds, with offices in Toronto and New York, is an advertising technology company. Investment proceeds of the debt-deal will be used by the company as growth capital and to accelerate sales.
PRESS RELEASE
TORONTO, ONTARIO–(Marketwired – July 17, 2013) – BEST Funds, a leading Canadian Venture Capital firm, has announced that it has invested $3,000,000 (CAD) into cutting-edge advertising technology company, AcuityAds. The debt-deal will be used by AcuityAds as growth capital to continue to accelerate the rapid sales of the company.
BEST Funds provides needed capital to emerging technology companies in order to aid them in accelerating growth and expanding market share. When examining whether to invest in an organization, BEST Funds looks for strong management, exceptional growth margins, product demand and a determined, stable business plan – all areas in which AcuityAds has shown impressive results and potential.
John Richardson, CEO of BEST Funds, noted that, “We are excited to be working with this fast moving, high potential company and are pleased to provide them with the capital needed to expand on their success to date.”
When asked what this funding meant for him and his company, Tal Hayek, CEO of AcuityAds, said that, “The online media landscape is undergoing a fundamental transformation and we are excited to be playing a role in these changes. This investment will allow us to continue to pioneer these shifts in the future.”
About BEST Funds
BEST Funds is a leading Venture Capital firm that focuses on funding rapidly growing Canadian technology companies by providing them with the capital needed to execute their growth strategies. Primarily focused on emerging companies in the software and technology industry, BEST Funds is actively deploying capital to some of Canada’s fastest growing companies. BEST Funds was established in 1996 and is based in Toronto, Canada.
For more information, please visit: www.bestfunds.ca
About AcuityAds
AcuityAds is a hyper-targeted platform for executing programmatic transactions in online digital media. Acuity’s proprietary machine learning optimization technology creates exceptional efficiencies for its clients, in the display, video and mobile segments. Acuity powers hundreds of international brands including many Fortune 500 companies and conducts its operations out of offices in New York and Toronto.
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