Canaccord Genuity is pleased to announce it has advised Quartile Digital, a provider of AI-driven autonomous advertising optimization and spend management software used by leading brands and sellers across various digital commerce platforms, on its significant investment from Detroit-based Rockbridge Growth Equity. The investment will be used to recapitalize the business and support development of direct sales and marketing efforts, product enhancements, and further international expansion.
Quartile enables brands and sellers to improve their return on advertising spend and accelerate their sales and profitability across Amazon and other online marketplaces. Quartile’s proprietary software utilizes proprietary artificial intelligence and machine learning algorithms to setup, execute, and optimize thousands of campaigns autonomously on behalf of brands and sellers. The company’s product offers its customers the ability to reach high-intent purchasers and enables bottom-of-the-funnel attribution, making it a particularly attractive tool for merchant advertisers. Quartile manages approximately 3% of global Amazon advertising spend and supports merchants on all 12 of the global Amazon marketplaces that currently offer advertising. Quartile customers span a wide array of end markets in the U.S. and globally and range in size from less than a million dollars in annual revenue to more than $100 million.
Founded in 2007, Rockbridge Growth Equity is a Detroit, Michigan-based private equity firm that invests in financial and business services, consumer-direct marketing, and the sports, media, and entertainment industries. As Rockbridge's newest investment, Quartile will join the Rock Family of Companies, which includes other high-growth businesses such as Quicken Loans, the nation's largest online mortgage lender; Gas Station TV, a fast-growing digital advertising platform; ProSites, a leading provider of marketing automation tools for community professionals; White Glove Workshops, a digital marketing company that provides a comprehensive approach to marketing and seminar planning for professionals in the finance, insurance, legal, and real estate industries; Rock Connections, a national strategic marketing company specializing in outbound and inbound client service for numerous online, technology, and other businesses; and Bedrock, a full-service real estate firm specializing in acquiring, leasing, financing, developing and managing commercial and residential space, among others.
Canaccord Genuity, with a team led by Anil Kuruganti, Andrew Pojani, Sanjay Chadda, and Amy LaBan, served as the exclusive financial advisor to Quartile Digital.
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