Québec digital technology firm will use the funds to expand domestically and internationally
MONTRÉAL, Sept. 23, 2016 /PRNewswire/ - Created in Montréal in 2013 by a group of five digital media experts, District M offers programmatic solutions for publishers and advertisers. The company already has 42 employees and offices in Montréal, Toronto and New York.
Its flagship product, Boost, allows publishers to maximize their online advertising revenues by monetizing all the impressions generated by visitors. District M has also developed a technology called Header Bidding, which allocates impressions to advertisers with the highest CPM (cost per thousand advertisement impressions).
District M's customer base includes such media groups as Corus, Quebecor, The Weather Network, Ricardo and Yellow Pages in Canada, along with Nasdaq, CBS, Reader's Digest and eBay in the United States.
For advertisers, District M brings creativity and performance to the field of programmatic advertising with campaign distribution that allies impactful formats and data targeting (proprietary DMP that makes it possible to target individuals based on their current interests and intentions).
With its Canada-wide sales team, District M thus delivers over 1,200 campaigns per year for national and local advertisers. The company is now expanding into the U.S.
The Fonds de solidarité FTQ is investing $8 million to support District M's strong growth. The funds will be used for ongoing investments in technology to help the company become an industry leader in Canada. District M also plans to double its employees within two years.
"Thanks to a dynamic, seasoned and innovative team, District M is well placed to capitalize on the growth in digital advertising. Although it was created just three years ago, the company has managed to acquire many prominent clients, showing that it is able to meet the needs of a rapidly emerging market," said Alain Denis, Senior Vice-President, Innovation, at the Fonds de solidarité FTQ.
"We're very pleased to have the Fonds de solidarité FTQ as a partner. Their support will allow us to forge ahead with our business plan and particularly, solidify our investments in technology and recruit talent to maximize our growth in Canada, the U.S. and abroad. One of the ways we'll do this is by opening additional offices in the months ahead. While we're very proud of what we've accomplished in the past three years, we know we can take District M even further," said the company's CEO, Jean-François Côté.
District M was selected as Jury's Favorite at the 2015 edition of Deloitte's Technology Fast 50 and by the Canadian Technology Accelerator (CTA) as one of the six most promising Canadian digital technology companies.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers into investments. As at May 31, 2016, the organization had $11.7 billion in net assets, and through its current portfolio of investments has helped create and protect 187,414 jobs. The Fonds is partner in more than 2,600 companies and has 618,551 shareholder-savers. www.fondsftq.com
SOURCE Fonds de solidarité FTQ