Gimv et al. invest €12m in Teads

Teads has raised €12m in equity and a further €12m in the form of a mid-term line of credit. The latter was provided by a bank syndicate including Bank of China, HSBC, BNP Paribas and BPI.

New investor BPI has backed the company via its Fonds Ambition Numérique, which was established in December 2011 and manages €300m in capital.

The company as it stands today was formed through the merger of Teads and Ebuzzing in April last year. Elaia and Partech were backers of Teads, while Gimv – alongside Lightspeed Venture Partners and Gemini Israel Funds – was a shareholder of Ebuzzing.

The newly formed group has its global headquarters in London, with Teads having been based in Montpellier and Ebuzzing in Luxembourg.

The fundraise comes ahead of a potential Nasdaq listing for the company. At the time of the merger, the company noted that it would begin planning a flotation for 2015 due to the expected increase in revenue.

Teads also plans on increasing its workforce by 180 this year.

Company
Founded in 2011 and now headquartered in London, Teads operates 25 offices worldwide and employs 350 staff.

The company develops video advertising formats for publishers and advertising networks. Its formats appear within the text of editorial content. Customers include The Telegraph, The Guardian, Reuters and Forbes.

The company estimates it generated around $95.6m (£63.5m) in revenues last year, which is an increase of 65% on the $58.1m (£38.6m) in 2013.

People
Bertrand Quesada is the CEO of Teads. Frédéric Le Brun is an investment director for the Fonds Ambition Numérique.

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