Canadian ad company raises $12M
Nov 27, 2012 / 5:00 am
Chango, a digital advertising company based in Toronto, recently raised $12M in funding in an effort to expand and legitimize itself as a serious contender in the ad retargeting space. With year over year growth of 600%, Chango is looking to charge full steam ahead with by filling around 50 new positions - six of which seem to be in Canada according to their website.
In terms of digital advertising, ad retargeting is growing at a tremendous pace. In the simplest form, retargeting allows advertisers to display ads to people who have previously visited their website. For example, if you're researching televisions online but don't make a purchase, there's a good chance you will see follow-up ads days or weeks after your online research session. Advertisers like it because it keeps their brand top of mind, especially for purchases that consumers spend their time deciding on.
It's great to see a Canadian company with a respectable presence in this space, but the competition is steep. Google offers this technology through their Adwords platform, and AdRoll secured $15M in funding this past summer and has been adding around 500 new customers each month. As more consumers spend their money online, you can be rest assured the advertisers want to be there to coax you along every step of the way.
About the author: Brad Parsons is the owner of Sticky Consulting, an Internet marketing & web consulting company based in Kelowna, BC.
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