PROVIDENCE – Providence Equity Partners has taken a $222 million majority stake in Smartly.io, the company announced on Wednesday.
Smartly.io offers a digital advertising platform to customers to manage and optimize ad operations across social media platforms. The company is headquartered in Finland and has over 350 employees in 16 offices across the globe.
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“By partnering with Providence [Equity], Smartly.io gains invaluable strategic advisory, deep operational experience and market insight, especially in the U.S. where major Fortune 500 companies are only starting to automate their creative processes,” said Smartly.io founder and CEO Kristo Ovaska.
The company said it plans to accelerate its growth through acquisition and organic investment.
“Smartly.io has a unique opportunity to help transform the creative and media optimization process, and we look forward to supporting the company with our experience and capital to accelerate organic and inorganic growth,” said Davis Noell, a managing director at Providence Equity.
Providence Equity says it has over $45 billion in aggregate capital commitments.
