StackAdapt has raised a seed round.
The round, worth $900,000, was led by by IAF (Investment Accelerator Fund), Slaight Communications, and complimented by the debt financing from BDC (Business Development Bank of Canada).
According to the startup, the funds are primarily aimed to fuel further growth and expansion of their development team in Toronto, and to support the growth of their satellite offices in New York and London.
“Aside from receiving external validation for the work that we have done to date at StackAdapt, I am thrilled to see the rapid change in the online world,” CEO Ildar Shar said of the round. “From the raw and somewhat choatic Internet as we came to know it in the 90s and 2000s, we see it turning into a transparent, safe, and a fair playground for human interaction and digital innovation.”
“We are honoured to be one of the companies to help shape it this way,” he added.
Shar’s company is looking to rejig the world of online banner advertising by enabling non-technology focused media companies to sell native ad inventory at scale. StackAdapt aims to be “the world’s first scalable solution for their content marketing distribution.”
StackAdapt was named this year to the Techvibes 20.