Advocado Announces $10 Million in New Capital, Led by Crescent Cove Advisors, and Appoints New Board Member
Funding to Drive Growth & Innovation; New Board Member Brings 20 Years of Finance Experience to the Leadership Team
St. Louis(16 Dec 2021)
Advocado, the leading data platform connecting and powering cross-screen advertising, today announced $10 million in new capital, including a $7.5 million investment from institutional investment firm, Crescent Cove Advisors. The funds will help the company continue to drive innovation in ad verification across all screens and touchpoints. In addition, Advocado welcomes its newest director and existing investor at Vest Coast Capital, Michael Beer, bringing 20 years of finance experience to the Board as the company rapidly scales operations.
“Advocado’s exceptional set of cross-screen ad verification solutions puts the company in a unique position to make a significant impact in the evolving adtech industry,” said Jun Hong Heng, founder and chief investment officer at Crescent Cove. “Advocado’s platform meets the need to deliver better customer experiences head on, empowering advertisers with up to the minute insights they need to create more effective campaigns.”
Advocado offers a fully integrated ad verification, attribution and campaign coordination platform, allowing advertisers, media organizations and publishers to more efficiently track, measure and amplify the impact of their ads, online and offline. The new funding comes at a time of rapid growth for Advocado, which recently acquired Kantar BVS to gain market share in the broadcast, radio and digital ad verification space. With the backing of Crescent Cove and supportive existing investors, Advocado has the ability to accelerate its development of these expanded capabilities.
“At Advocado, our mission is for advertisers to gain more control of their data to inform smarter, more strategic real-time decisions around their spends,” added Jeff Linihan, co-founder, president and COO of Advocado. “We’re thrilled to partner with Crescent Cove and are confident the collaboration will play an important role in successfully meeting our aggressive growth objectives. Michael has been a part of our vision for many years, so it’s great to formally welcome him to the Board.”
For more information on Advocado, visit https://www.myadvocado.com. For press inquiries, contact advocado@havasformula.com.
About Advocado
Advocado empowers advertisers, publishers and media companies with its first party data management platform that instantly generates, integrates, analyzes, and activates data to deliver unprecedented results, maximizing customer campaigns and advertising dollar ROI across all screens. The platform helps fill visibility gaps with unique data powering advertisers, publishers, and media companies to target and adjust their spending real-time for multi-screen campaigns performance. Built by marketers for marketers, the platform uses signal data via patented watermark technology, natural language processing, automated content recognition, and real-time weather to connect offline and online audience data to reveal and influence the entire customer journey. Advocado is headquartered in the urban core of St. Louis, MO and serves customers across North America.
About Crescent Cove
Crescent Cove is a multi-asset investment firm focused on technology investments and dedicated to supporting entrepreneurs and founders. Established in 2016, Crescent Cove leverages its global network of relationships and unique insight across markets, emerging industries and technologies to build businesses and accelerate value creation across its portfolios. For more information, visit https://crescentcove.com
About Vest Coast
Vest Coast Capital is a boutique investment and advisory firm, specializing in the capitalization and commercialization of transformative, early-stage technologies. With a presence in Silicon Valley and New York, Vest Coast is well positioned to identify and cultivate unique investment opportunities through a host of creative financing solutions. For more information, please visit vestcoastcapital.com.