Permutive, a US-based provider of secure programmatic advertising technology, raised $75m on Monday in a series C round led by telecommunications and internet group SoftBank’s Vision Fund 2.
The round also featured EQT Ventures, the venture capital arm of investment firm EQT Partners, as well as VC firm Octopus Ventures and investment firm Ace & Company.
Founded in 2013, Permutive is the creator of a software platform which enables users to organise personalised advertising using consented first-party data without infringing on privacy. The series C round boosted its overall funding to $105m.
The company received $18.5m in a July 2020 series B round led by Octopus Ventures and backed by EQT Ventures and unnamed existing investors. It had raised $1.4m in 2015 and $7.5m three years later according to securities filings, and its earlier backers include Entrepreneur First.
Max Ohrstrand, an investor at SoftBank Investment Advisers, which manages Vision Fund 2, said: “To underpin a privacy-first web requires unique technology. As a leader in on-device technology, Permutive can bring a complicated landscape that’s being significantly disrupted into a privacy-safe future.
“The company’s technology is now running on over 1 billion devices a month globally, and we see tremendous opportunity for sustained growth as on-device processing reshapes adtech.”
