Former Yahoo Executive Joins as Chief Revenue Officer
NEW YORK – AdTheorent, Inc., a technology company whose data-driven predictive solutions are transforming digital advertising, announced the closing of a strategic growth investment from H.I.G. Growth Partners (“H.I.G.”), the dedicated growth capital investment affiliate of H.I.G. Capital, in partnership with the Company’s co-founders and existing investors. AdTheorent’s intelligence-driven approach to digital advertising and market-leading machine learning capabilities have made AdTheorent a pioneer of a new form of digital advertising — predictive advertising — which leverages immense and disparate pools of data to drive superior user engagement and ROI for advertisers. AdTheorent’s unique capabilities and demonstrated track record of delivering real value has fueled the company’s rapid year-over-year growth.
“AdTheorent delivers a highly differentiated solution and market leading performance by combining proprietary predictive advertising technology with excellent client service. We are very excited to partner with the AdTheorent team and welcome Patrick to the leadership team, as they continue to build and grow the Company and technology solutions.”
“AdTheorent’s growth to date has been has been exceptional. After ranking 20th on the Deloitte Technology Fast 500 in North America in 2015, the Company continued with 70% year-over-year revenue growth from 2015-2016, a period in which our machine learning platform analyzed 2.1 quadrillion pieces of data for more than 200 new brands,” said Scott Russo, COO of AdTheorent. “We are thrilled to partner with H.I.G. as we continue to invest in the resources and technology that will further fuel our growth and strengthen our market position.”
H.I.G. is the largest private equity investor in the U.S. and Europe focused on the lower end of the middle market and has invested in and managed more than 200 investments worldwide, with combined sales in excess of $30 billion. H.I.G. has deep expertise and broad relationships in advertising technology, digital media, and data/information services.
AdTheorent was advised on the transaction by Douglas Melsheimer of Boston-based Bulger Partners.
Patrick Albano Tapped as CRO
In addition to partnering with H.I.G., AdTheorent has hired the company’s first Chief Revenue Officer, Patrick Albano, who will lead the sales, marketing, account management, creative and strategy organizations through the next phase of growth. Patrick joins AdTheorent from Yahoo, where he held various management roles, including leading Yahoo’s Mobile Sales growth and most recently managing a portion of the sales organization across Europe, the Middle East and Africa. Prior to Yahoo, he held sales leadership positions with Sports Illustrated, About.com and Citizen Sports, a social and mobile start up acquired by Yahoo in 2010.
“I am excited about how machine learning is making advertising and marketing more effective, and AdTheorent is a company at the center of that evolution,” said Albano.
Nik Shah, Managing Director at H.I.G. Growth, added, “AdTheorent delivers a highly differentiated solution and market leading performance by combining proprietary predictive advertising technology with excellent client service. We are very excited to partner with the AdTheorent team and welcome Patrick to the leadership team, as they continue to build and grow the Company and technology solutions.”
AdTheorent is a technology company that is transforming digital advertising through user identity mapping and data-driven predictive solutions. AdTheorent’s machine learning technology platform, Cross-Environment Map and Barometric® technologies help brands understand and connect with their audiences at scale.
The Company’s machine learning technology platform combines millions of data attributes into precise and accurate adaptive models for the purpose of identifying optimal audiences. Powered by data-driven intelligence, AdTheorent’s platform delivers the right ad, to the right user, at the right time – all in “real time” within brand advertisers’ ROAS and performance goals.
AdTheorent provides the most comprehensive cross-environment mapping infrastructure in market, which maps millions of unique device IDs to US households (without using or obtaining individual identities) and other physical locations, and appends those device IDs with extensive 1st, 2nd and 3rd party data sources. As a mobile-first Data Management Platform, AdTheorent is uniquely positioned to match offline and online data to mobile at scale, affect cross-environment targeting and break new ground in media attribution including physical activity such as purchase.
The Company’s Barometric measurement and analytics solution features the advertising industry’s most advanced cross-environment tracking and attribution solution, providing the “post-click and post view” signals necessary for modeling to (i.e., predicting) true user engagement and awareness.
The collective result to AdTheorent-partnered brands and marketers is higher engagement rates across any client-defined metric – The Intelligent Impression®. For more information, visit: www.adtheorent.com.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global private equity investment firm with $21 billion of equity capital under management.* We seek to make both majority and minority investments in strong, growth oriented businesses located throughout North America, South America and Europe. We consider investments across all industries, but focus on certain high-growth sectors where H.I.G. has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth Partners strives to work closely with our management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.