Montréal-based Optable has raised $20-million USD ($28.8-million CAD) in funding to fuel its growth in the United States.
The round was led by Telus Global Ventures with participation from many returning investors, including Hearst Ventures, Brightspark Ventures, Desjardins Capital, Deloitte Ventures, and AsterX, the corporate venture arm of Quebecor.
“Their impressive growth and partnerships with industry leaders demonstrate the value and potential of their solution.”
Terry Doyle
Telus Global Ventures
The company is classifying the round as a Series A extension and it included $6 million USD in venture debt, according to The Logic. BetaKit has reached out to Optable for more details on the round but did not hear back by press time.
Founded in 2020 by CEO Yves Poiré, chief strategy officer Vlad Stesin, and chief product officer Bosko Milekic, Optable uses data clean rooms, a kind of software that allows advertisers to aggregate, anonymize, and compare user data, allowing companies to see how their advertising campaigns are performing.
The founding trio exited their previous venture AdGear in a 2016 sale to Samsung. Its tech stack eventually became a founding block of Samsung Ads Canada.
Poiré said in a statement that 2024 was a defining year for Optable, and that this latest funding will allow it to keep building the tools its partners need.
“In 2025, we’re expanding our focus to work with innovative publishers, media companies and platforms, helping them make their data actionable and impactful,” Poiré said.
RELATED: Optable raises $26 million CAD to help companies improve advertising campaigns
Telus Global Ventures managing partner Terry Doyle said in a statement that the Optable team has shown “a keen ability” to tackle the challenges online publishers face today.
“Their impressive growth and partnerships with industry leaders demonstrate the value and potential of their solution, helping publishers to cut through the complexity, adapt to change, and find real opportunities for growth,” Doyle said.
Optable said some of its customers include creator monetization platform Raptive, The Globe and Mail, and media company Hearst, the parent company of Optable backer Hearst Ventures.
The company last raised a $20-million USD ($26-million CAD at the time) Series A round in 2023 with many of the same backers—though not Telus Global Ventures—after raising a $3.6-million USD ($4.3-million CAD) seed round in 2021. The company has raised approximately $61.8 million CAD to date.
Feature image by Austin Distel via Unsplash.
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Canadian Startup News, Funding, Montréal, Quebec, SaaS BetaKit
Funding for the adtech venture led by Telus Global Ventures with participation from many returning investors.
The post Optable raises $28.8 million to grow data management solution in United States first appeared on BetaKit.
