Oakley invests USD 35m in Seedtag

The deal sees Oakley acquire a minority stake in the business. The Series B investment is intended to support the company's US expansion and the development of its AI-based technology.

Oakley is investing via Oakley Capital Origin Fund, which held a final close in January 2021 on EUR 455m. The vehicle deploys equity tickets of EUR 10m-50m, investing in technology, consumer and education companies with enterprise values of up to EUR 100m.

Seedtag acquired Germany-based digital advertising company Recognified in February 2021 with the aim of consolidating its presence in Europe.

Existing investors Adara Ventures and All Iron Ventures are to retain their stakes in the company.

Previous funding
Adara Ventures backed a seed round for Seedtag in September 2016, according to Unquote Data.

Seedtag raised a USD 5.2m Series A round in 2017, according to a statement.

Spain-headquartered venture capital firm All Iron Ventures has previously invested in Seedtag via All Iron Ventures I FCR, according to Unquote sister publication Mergermarket.

Company
Founded in 2014 and based in Madrid, Seedtag is a developer of an AI-based contextual advertising software. Its program does not rely on the use of third-party cookies, meaning that it collects consumer data and allows companies to target priority audiences without using browsing history. Its users include Adidas and Universal, as well as advertising agencies WPP and Havas. Seedtag employs more than 200 staff in Spain, France, Italy, the UK, Benelux, Germany, Mexico, Brazil and Colombia.

People
Oakley Capital – Peter Dubens (managing partner).
Seedtag – Albert Nieto, Jorge Poyatos (co-CEOs).

Advisers
Company – Lion Tree (corporate finance).

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• Topics
• Expansion
• Southern Europe
• Technology
• Spain
• Oakley Capital