Hivestack Gets $10M Infusion From Quebec Gov’t Investment Wing
August 11, 2020 by Dave Haynes
Montreal-based Hivestack, which has a platform for programmatic digital out-of-home (DOOH) advertising, has done $10 million equity funding with an investment arm of the provincial government, Investissement Québec (IQ).
The funding enables Hivestack to expand its workforce locally and globally, with a focus on R&D.
Hivestack is the software platform that was NOT part of the acquisition that saw Ayuda Media Systems brought into the fold of fellow Montreal DOOH company Broadsign in April 2019. Ayuda and Hivestack founder Andreas Soupliotis stuck with Hivestack, as did board chair and co-founder François de Gaspé Beaubien.
Hivestack enables both the buy and sell-side of programmatic 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.”
Says the PR:
Programmatic DOOH is a burgeoning field that offers marketers increased speed and flexibility. The ability to pause or reactivate campaigns in an “on and off” manner ensured minimal economic disruption during the pandemic. The gradual return of consumers outside of the home also offered interesting development and targeting opportunities in the field.
Guy LeBlanc, CEO of Investissement Québec: “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 increasingly evolving context. Whether it is in technology, artificial intelligence or any other field, innovation and creativity will spearhead Quebec’s economic recovery.”
Soupliotis: “Digital out-of-home (DOOH) advertising is one of the last, untapped frontiers for programmatic marketers. Today, the majority of DOOH advertising is bought directly between buyers and sellers. This is poised for a dramatic change with programmatic technology acting as the key growth driver.”
“The rise,” he adds, “of privacy-compliant location data, the desire for automation, and the demand for real-world attribution have created an environment where marketers are showing an increased propensity for programmatic DOOH to drive outcomes. Hivestack has shown phenomenal growth over the past three years while building great products that drive these new capabilities for our medium.”
Hivestack was created in September 2017 and employs 42 people, including 33 in Quebec. It also has offices (presumably sales) in Toronto, Tokyo, London, New York and Sydney.
Investissement Québec, which I am not sure is pure government or kinda sorta arms-length, describes its mission as “actively participating in the economic development of Quebec by stimulating innovation in businesses, entrepreneurship and buyers, as well as the growth of investment and exports. Active in all administrative regions of Quebec, the Company supports the creation and development of businesses of all sizes through investments and adapted financial solutions.”
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