Placement Raises Funds for AcuityAds

In Canada, ad targeting firm AcuityAds has completed a private placement, raising $2.1m in the process.

The firm, which is headquartered in Toronto with sales offices in nine other North American cities plus London, helps clients target audiences via mobile, social media, display and video ads. Earlier this year, it acquired analytics specialist Visible Measures Corporation for around $10m.

The firm has now issued around 1.4m common shares priced at $1.50 each, with the proceeds of the offer earmarked for general working capital and corporate purposes. It has also converted a portion of its debt to $1.1m in equity. Certain members of the Board of Directors and management participated in the offering and debt conversion.

The company is led by CEO and co-founder Tal Hayek (pictured), and is online at www.acuityads.com .