Aditude Raises $15M to Accelerate Adoption of its Ad Ops Technology that Drives Revenue and Scale for Publishers
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Series A investment from Volition Capital to solidify Aditude's tech leadership position in the expected $835B annual global digital ad market
NEW YORK, August 28, 2023-- Aditude, a leading Ad Operations technology solution for online publishers, today announced it closed a $15M Series A funding round from Boston-based growth equity firm, Volition Capital. The investment follows 478% growth in 2021 and 650% growth in 2022 over a three year span fueled by rapid adoption of Aditude's proprietary cloud-based header bidding tech stack for publishers to operate and monetize display and video ads faster and more efficiently.
Digital ad spend represents a large and growing market that is expected to reach $835B by 2026. With the increased complexity of digital ad tech stacks, there is a significant open opportunity to transform the legacy advertising ops and header bidding ecosystem with better options for publishers. Open-source solutions are difficult to implement without technical expertise and most managed service providers offer black box technology.
While the online ad market has matured, little innovation has occurred in pricing models, header bidding solutions, or technical support for publishers. Aditude fills this gap with proprietary technology and tailored solutions for every publisher with custom pricing that drives revenue. Built by a team with deep AdTech experience, Aditude started as an ad ops consultancy that eventually built its own products due to a lack of third-party tech innovation and pricing models.
Aditude differentiates itself with its technology. Legacy managed ad ops solutions emphasize demand-side relationships and rely on revenue share models. Aditude provides customized technology to drive performance and offers transparent pricing that is value-aligned with publishers. Aditude consistently iterates and updates its solutions, including a cloud wrapper solution, page layout creation tool, customizable video player for video ads, and cloud hosting to increase ad and page speed.
"We founded Aditude on the simple belief that publishers can make more money through better technology and websites – not just by having the best advertiser relationships," said Jared Siegal, CEO of Aditude. "Having experienced the industry pain points for publishers firsthand as a former publisher, I decided to completely transform the ecosystem with superior technology built in house and set out with my team to provide the most robust and flexible solutions for revenue-focused publishers."
With the investment, Aditude will continue to develop and introduce new products and services focused on ease-of-use and publisher success. The company, which was previously 100% self-funded and profitable from day one, will also invest in marketing to grow brand awareness and plans to scale the team with a goal of doubling headcount (currently 16) by the end of 2024. Aditude is also evaluating opportunities for strategic acquisitions of managed ad ops players in the space to accelerate growth.
"Great B2B software companies are built with technology that helps customers scale their business and revenues in a seemingly effortless way," said Jim Ferry, Principal at Volition Capital. "Based on that blueprint, we envision that Aditude will continue its leadership position as an industry disruptor by providing publishers a better and easier way to manage their ad ops. Jared embodies the type of hard-working ambitious founder we look for, and we have great enthusiasm for partnering with him and the entire team."
Aditude prioritizes publisher success with ad support on top of its technology. Its team of experts can help with SSP optimizations and onboarding, prebid solutions set up and management, direct campaign set up and management, and full site audits. Publishers can work with Aditude developers familiar with AdTech to help save time and money so they can focus on scale and other core business priorities.
"As a fast-growing destination for people to instantly play free online games in their browser, our primary focus is gameplay and user experience. However, there was significant opportunity for us to drive revenues with video and display ads. Aditude is working behind the scenes to manage all of our ad serving and today powers billions of monthly impressions and millions in new revenue across our sites. We never have to worry about scaling our downtime and can stay focused on ensuring our customers get the best possible gaming experience." - Ben Armstrong, Now.gg
"Prior to working with Aditude, we were working with multiple companies for ad ops, development, prebid and lacked control or understanding of each vendor's positioning. We were faced with massive data discrepancies and loss in traffic, which in turn, prevented us from fully optimizing our ad revenue potential. Aditude worked to consolidate and bring everything in-house to give us better control and enabled us to transform into a profitable and scalable website." - Michael Bellom, Playmaker
Aditude was founded by Jared Siegal (CEO) who formerly led ad ops at Answers.com when it was one of the largest websites in the world. Since its evolution from a consultancy to a tech company, Aditude's success has been driven by the team's deep domain knowledge of the ad operations market, a passion for building innovative technology that empowers publishers to scale, as well as established relationships with key ecosystem partners.
Aditude helps publishers scale their business and increase revenue through better technology and websites. The company provides a proprietary technology platform that enables tailored solutions for every publisher and works to create revenue-focused publishers with customized pricing to meet their needs. Aditude's team of ad support experts and developers help publishers save time and money without having to worry about ad operations and performance. For more information, visit https://aditude.io/.
About Volition Capital
Volition Capital is a Boston-based growth equity firm that principally invests in high-growth, founder-owned companies across the software, Internet, and consumer sectors. Founded in 2010, Volition has over $1.7 billion in assets under management and has invested in and/or provided sub-advisory advice to more than 40 companies in the United States and Canada. The firm selectively partners with founders to help them achieve their fullest aspirations for their businesses. For more information, visit http://www.volitioncapital.com or follow us on Twitter @volitioncapital.
Peter Moran, Indicate Media, (347) 880-2895, firstname.lastname@example.org, indicatemedia.com
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