Toronto advertising startup AcuityAds raises $3M

Toronto startup AcuityAds Inc. has just scored $3-million in funds from Best Funds, a Canadian venture capital firm.

Best Funds announced yesterday it was plugging money into AcuityAds as a debt-deal for growth capital, allowing the advertising startup to keep boosting sales. Also based in Toronto, the venture capital firm focuses on Canadian companies in the high-tech space, zeroing in on startups that have “strong management, exceptional growth margins, product demand, and a determined, stable business plan.”

As an advertising startup, AcuityAds uses real-time bidding, giving advertisers the option to bid on ad time just before a consumer loads a webpage. That’s considered more effective than just buying online display advertising impressions because advertisers can target their ads towards consumers, and because it’s more cost effective than buying impressions in bulk. Not all of those impressions will be effective in a campaign, so AcuityAds focuses on steering customers towards bids that will provide greater returns.

So far, the company has served major clients like the Royal Bank of Canada, McDonald’s Corp., Best Buy Co., Inc., Nintendo Corp., and SickKids Foundation.

Check out AcuityAds’ video below. It explains real-time bidding:

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Candice So
Candice So
Candice is a graduate of Carleton University and has worked in several newsrooms as a freelance reporter and intern, including the Edmonton Journal, the Ottawa Citizen, the Globe and Mail, and the Windsor Star. Candice is a dog lover and a coffee drinker.

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