The round, led by Toronto’s Plaza Ventures, will help the local startup scale its self-serve demand-side native advertising platform and hire more talent.
“We’re excited to announce this strategic relationship with Plaza Ventures since they have a deep understanding of the technology and ad tech ecosystem,” said Ildar Shah, co-founder of StackAdapt. “Brands and agencies have readily adopted our native ads solution since launch, and we plan to use this funding to scale the self-serve platform and help them drive more meaningful interactions with their branded content.”
In order to meet demand from brand and agency customers, the company plans to hire across all functions in its Toronto office, including product, tech, customer success, sales, and marketing.
“As brands look for more meaningful ways to reach customers, it’s clear that native advertising adds more value than banner ads, which are increasingly ignored,” said Rob Richards , Managing Partner at Plaza Ventures. “StackAdapt has created a best-in-class platform with unique functionality and scalability, and we’re excited to partner with them to expand their presence in the ad tech space.” =
Clients use the StackAdapt platform on a self-serve basis and can access the global supply of native advertising from a single intuitive interface.
In November StackAdapt released benchmarks highlighting the effectiveness of native ads compared to display ads. Research showed that ads placed through StackAdapt have an average click-through rate of 0.4-0.8 per cent, which is around 10x higher than the average 0.06 per cent click-through rate on display ads (Smart Insights).