Hivestack has announced that it has secured $10 million in equity funding by Investissement Québec to support its global expansion.
Guy LeBlanc, CEO of Investissement Québec told us “With this funding, we are happy to take an active part in the development and growth of Hivestack, here in Quebec and internationally. Their platform will enable advertisers, both in the public and private sectors, to reach their targeted audiences in an increas- ingly evolving context. Whether it is in technology, artificial intelligence or any other field, innovation and creativity will spearhead Quebec’s economic recovery.”
We are told that this significant funding will enable Hivestack to expand its workforce both in its Montreal headquarters as well as globally. Hivestack currently employs 42 people, including 33 in Quebec.
The press release stated that Hivestack will continue to stimulate Quebec’s economy by actively recruiting in all business areas, with a strong focus on R&D.
François de Gaspé Beaubien, Executive Chairman of the Board and Co-founder of Hivestack told us “We are extremely proud to welcome Investissement Québec as our partner. Thanks to them, we will be able to accelerate the deployment of our platform at a global level. And we are especially proud that Montreal continues to be a hub for excellence and innovation thanks to the support of our government.”
Hivestack is a global, full stack, marketing technology company that powers the buy and sell-side of programmatic digital out-of-home (DOOH) advertising. On the buy side, marketers use Hivestack’s Demand-Side Platform to create measurable campaigns that activate DOOH screens in real time based on consumer behaviour and audience movement patterns. On the sell-side, DOOH media owners use Hivestack’s Supply-Side Platform & Ad Exchange to attract programmatic revenue. DOOH media owners can also use Hivestack’s Ad Server to power audience-based, directly sold campaigns. Attribution is a first class-citizen throughout Hivestack’s platform, offering buyers and sellers the ability to measure business outcomes at all stages of the consumer sales funnel.