Digital display advertising company Criteo has raised 30 million euro ($38.5 million) in a new round of financing led by SoftBank Capital. Criteo was created in 2005 in is based in Paris. The new capital will be used for growth.
Criteo, the global leader in performance display advertising, today announced a €30 million round of financing led by SoftBank Capital to support the company’s hyper-growth trajectory.
Profitable since 2009, Criteo has continuously delivered growth, exceeding all forecasts since the company’s founding. The company now serves more than 3,000 advertisers worldwide, with the US being the number one revenue generating market. This new investment will help Criteo to continue reinventing the online display advertising market, with a goal of making it as efficient as search marketing.
JB Rudelle, CEO and Co-Founder of Criteo said: “In a period of high-growth for Criteo, this new financing enables us to invest substantially in innovation, technology and people. In addition, we are very excited to leverage the knowhow and footprint of SoftBank and Yahoo! JAPAN for our expansion in Asia, a very strategic region for us. Overall, the fact that such a sophisticated syndicate of investors has decided to join us is a powerful validation of our unique model.”
Matt Krna, Principal at SoftBank Capital added: “We are delighted to partner with Criteo and help the company extend its leadership in the cost-per-click performance display advertising sector, particularly in Japan and throughout Asia. In speaking with Criteo’s clients and partners, it became clear to us that the company’s analytical, performance-based model offers clear advantages to the entire online ad ecosystem, including consumers.” Mr. Krna will join Criteo’s board as an observer.
Recently Criteo announced an exclusive partnership with Yahoo! JAPAN – in terms of cost-per-click personalized display advertising, it is the first time that a third party technology company has had access to its inventory. To support its growth, Criteo has also recently invested in a state-of-the-art 100,000 square foot R&D centre in Paris, France.
Criteo is a privately held global leader in digital performance display advertising, and currently partners with over 3000 leading ecommerce brands around the world. Criteo was created in 2005 in Paris, France and now has 15 offices across the US, Europe and Asia, serving more than 30 countries globally. Criteo currently employs more than 700 employees and is established as a market leading provider of performance driven online advertising technology.
For further information please visit www.Criteo.com
About SoftBank Capital
SoftBank Capital makes investments that connect people, devices and the world. The firm invests across all stages of a company’s life cycle, with a focus on social media, mobile applications, ecommerce, online advertising, gaming, and cloud computing. SoftBank Capital offers entrepreneurs valuable experience and resources, including its close association with SoftBank Corp. and Yahoo! Japan. The firm’s historical investments include Associated Content, Buddy Media, Danger, E*TRADE, GeoCities, GSI Commerce, Huffington Post, OMGPOP, WebMD, and Yahoo!. SoftBank Capital has offices in Newton, MA, Menlo Park, CA, and New York City and Buffalo, NY.