Progress Ventures : Announces Significant Exit from Second Fund
Summary
Simpli.fi, the programmatic marketing platform built for the scale of localization and personalization, has announced that Chicago-based private equity firm GTCR will acquire a Majority Stake in the company for an undisclosed amount. The company has gained considerable traction over the last few years with a continued focus to add innovative technology to drive tens of thousands of hyper-local advertising campaigns. “They were an early investor – using their foresight to recognize the value and the potential of the company in the local advertising market – and have provided continuous insights into the ad-tech and media industry. More than investors, they have been advisors and friends to Simpli.fi through our entire life-cycle, and we are thankful for their strong partnership.” Speaking more generally to Progress Ventures’ investment strategy, Founding Partner Sam Thompson noted, “Given the nature of our narrow industry focus on Marketing and Media technology, we found it best to expand our network outside of Greater Boston and New York City. Progress exclusively seeks marketing and media technology companies, including those in the worlds of ad tech, social, mobile, search, and analytics.
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