TORONTO–(BUSINESS WIRE)–September 25, 2019–
CIBC Innovation Banking has announced a US$5 million growth capital financing for search intelligence provider Adthena. The growth capital will be used to support the Company’s international expansion and provide added fuel for its technology investment plans.
Adthena’s AI-driven search intelligence software solution delivers a comprehensive, personalized view of each user’s market, without keyword or competitor limitations. The Company’s patented technology enables enterprise search marketers to understand their paid search landscape as a whole and acquire customers using insights about their competitors. Adthena’s patented “Whole Market View” provides actionable data and insights, while their team of competitive intelligence experts support clients in their core areas of: market entry, campaign optimization, strategic advantage and brand protection. Adthena has raised US$18 million and is backed by Updata Partners, a leading technology focused growth equity fund.
“We are very excited to be supporting a top-tier management team” said Caroline Tkatschow, Director at CIBC Innovation Banking. “The team at Adthena has developed a market-leading AI-driven tool that gives their customers a competitive advantage in gathering market intelligence daily. We look forward to helping support the Company in their next stage of growth.”
“Today, 92 per cent of CMOs believe that search engine marketing can help them make more strategic business decisions and 60 per cent feel it can aid in gaining a competitive advantage, indicating that now is a crucial time for organizations to be incorporating search intelligence,” said Ian O’Rourke, CEO at Adthena. “With CIBC Innovation Banking’s investment, we feel strongly that we can better deliver the actionable, AI-driven insights customers are in need of and provide support to an expanded international client list.”
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to North American innovation companies at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada. CIBC Innovation Banking is a brand name under which CIBC and CIBC Bank USA provide products and services.
Founded in 2012, Adthena is the world’s most advanced competitive intelligence platform for paid search advertising, processing over 10 terabytes of new data, while indexing 500 million advertisements and 200 million keywords in 15 different languages every day. Powered by its AI-driven Whole Market View data set, Adthena’s carefully designed solutions of Market Entry, Campaign Optimization, Strategic Advantage and Brand Protection help marketers target and reach consumers that matter the most to their business according to their business objectives. Globally, Adthena works with more than 250 clients across 184 different business sectors, including finance, education, gaming, automotive and technology. Brand customers include Autotrader, Air New Zealand, Atlassian, Citibank, Burberry, Toyota, and Volvo. Agency customers include media specialists like GroupM and channel-specific paid search experts like iProspect. In addition, Adthena is the winner of several leading industry awards – including the Search Engine Land Awards, Stevie® Award for Customer Service, and European Search Awards, among others.
Susan Mocherniak, email@example.com, 416-682-6007