INSUBCONTINENT EXCLUSIVE:
Smartly.io, a company helping advertisers automate their campaigns across Facebook, Instagram and Pinterest, has sold a majority stake to
Providence Equity Partners for €200 million (approximately $223 million).Helsinki-headquartered Smartly.io says it automates ad
production, ad buying “and everything in between.” Founded in 2013, the company has more than 350 employees across 16 global offices,
and it estimates that it will see €2.5 billion in ad spend moving through the platform this year
Advertisers include Uber, eBay, Under Armour and Samsonite.That’s particularly impressive given the company’s relatively modest amount
of outside funding — $22.8 million, according to Crunchbase
Investors include Lifeline Ventures and Highline Europe (through a secondary round).“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 Smartly.io founder and CEO Kristo Ovaska
in the announcement.The companies say that as part of the deal, Smartly.io’s founders Ovaska and Chief Product Officer Tuomo Riekki will
maintain “significant ownership,” and will continue to lead the company. Providence Operating Partner Laura Desmond (who currently
serves on the boards of Adobe, DoubleVerify and Capgemini) will become chairperson of the board of directors.“Smartly.io is uniquely
positioned to play a lead role in a market where brand and performance work is converging,” Desmond said in a statement
“Together, we intend to grow the Company’s presence in the U.S
and globally, expand to other platforms, and build relationships with brands and their partners to create value for all.”
