Scibids raises €2.2m in series A to confirm its leading position in algorithmic trading
Scibids, the AI-based programmatic bid management solution that automates digital advertising campaign management, announces a €2.2 million Series A round of financing with the European VC firm Iris Capital to confirm its tech leadership and global reach.
Scibids is a Brandtech technological breakthrough: We see a team of accomplished machine-learning researchers, with a background in the financial markets, collaborating with innovative online marketing experts. This team built an AI for media buyers that helps them scale their digital advertising investments while using fewer resources and, at the same time, increasing return on ad spend (in some cases, by up to 100%).
This disruptive solution has caught the attention of industry leaders around the world. In less than 18 months, Scibids already signed contracts with over 40 clients - ranging from leading global agencies to top-notch pure players, in 11 different countries: USA, Australia, New Zealand, Japan, China, Taiwan, Singapore, UK, France, Germany and Spain. International customers accounted for over 60% of sales, with US clients as the top spenders.
This funding will allow the start-up to double the team’s size, open new offices in each continent and consolidate its position in the global markets.
Scibids’ founders have very specfic profiles: Rémi Lemonnier is among the small list of experts holding an Artificial Intelligence Ph.D. (obtained from ENS) applied to real-time bidding optimization. He possesses machine-learning proficiency combined with in-depth market knowledge. Julien Hirth is a serial entrepreneur, marketing expert, and successful author of books about data marketing and digital advertising.
Both graduates from the French engineering school Les Ponts et Chaussées, they are also chess champions, mastering the art of planification. The potential of the solution created by Rémi and Julien was already recognized last year: Scibids won the i-lab national competition, which rewards only the most innovative European companies, while the founders were appointed by Business Insider among the top 100 entrepreneurs under 30 (years of age) to follow.
"After a round of successful seed funding with Brandtech serial entrepreneurs like Frédéric Montagnon (ex-Teads, ex-Overblog), Vincent Thijssens (ex-Makazi, ex-Criteo, ex-OMD), and Thibaud Elziere (eFounders, ex-Fotolia) and significant public funding, we’re ready to start a new phase for Scibids with the strategic support of Iris Capital. Their global reach and expertise is coupled with a solid multi-corporate track record. The funding will be used to boost our ambition in world-leading scientific advertising," say Julien Hirth and Rémi Lemonnier, Scibids' co-founders.
Gil Doukhan, Principal at Iris Capital, adds “Digital marketing and finance are competing to build the strongest algorithms and hire the best engineers and researchers. As finance has proved that powerful tech and well-trained traders can be a very efficient combination, Scibids is allowing ad-traders to highly maximize their work when implementing the world-class AI developed by the young yet remarkable start-up. We have been investing in marketing and deep tech for years at Iris Capital and we are very proud to support this gem that combines both expertises with an impressive global reach and potential.”
Scibids provides display media buyers with an algorithmic trading SaaS solution that is available as a plugin working with advertising purchase platforms (also known as demand-side platforms) to automate campaign management.
The company was founded in September 2016. Within 18 months after its launch, more than 40 customers, from Sydney to New York, have adopted the solution to scale their programmatic activities.
Visit Scibids’ Linkedin Page and Scibids’ Twitter Account
About Iris Capital
Iris Capital is a European venture capital funds’ manager specialized in the digital economy. It fuels entrepreneurs at various stages of maturity, from early-stage to growth equity. With its deep sector specialization and extensive experience acquired over 30+ years, as well as the backing of its corporate sponsors, Iris Capital provides active support to its portfolio companies, through its presence in Paris, Berlin, San Francisco, Tel Aviv, Tokyo and Dubai.
IrisNext, Iris Capital’s new fund, includes for its first closing industry leaders such as Orange, Publicis and Valeo, joined by financial investors and institutions such as Bpifrance and BRED Banque Populaire. Iris Capital investments include, among others, companies such as Adjust, Adomik, Armis, Careem, Kyriba, Mojio, Mopub, Netatmo, ReBuy, Singlespot, Scality, Searchmetrics, Shift Technology, Talend and Zeta Global.
For more information, visit www.iriscapital.com