On February 4, 2025, StackAdapt, a Toronto-based programmatic advertising platform, raised approximately $340 million (US$235 million) in growth capital led by Teachers’ Venture Growth (TVG), with participation from Intrepid Growth Partners and other undisclosed investors. This follows an approximately $435 million (US$300 million) investment from Summit Partners in 2022, bringing total funding to approximately $725 million (US$500 million).
Teachers’ Venture Growth is a late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan.
The investment supports StackAdapt’s expansion in AI-driven advertising and marketing technology. J.P. Morgan and RBC Capital Markets acted as placement agents.
Dentons Canada acted as counsel to StackAdapt with a team led by Mike Hollinger and Kenda Shaheen, and that included Larry Nevsky (Tax) and Daniela Acevedo (Corporate).
Torys acted as counsel to Teachers’ Venture Growth with a team that included Konata Lake, Tyler Cassack and Nushrah Amod (corporate/financing), Ed Fan, Teresa Reguly and Denver Bandstra (IP and regulatory), Ellie Kang, Rebecca Wise and Ryan Davis (employment).
Osler, Hoskin & Harcourt LLP advised Intrepid Growth Partners with a team consisting of Ryan Unruch and Sahil Chopra (Emerging and High Growth Companies).