GroundTruth, one of the pioneering adtech companies focused on location-based marketing, has agreed to acquire Addy, the self-serve local ad marketplace as consolidation in the adtech space continues. Terms of the transaction were not disclosed. “From the start our mission at Addy has been to make the advertising process easier, more intuitive, and even enjoyable for small marketers,” said Ben Bilbrough, CEO of Addy. “We are excited about joining the GroundTruth team and starting the next chapter in that journey. Together we will be able to provide local businesses with advertising options and marketing tools that empower them to grow their business however they like.”
From the start our mission at Addy has been to make the advertising process easier, more intuitive, and even enjoyable for small marketers. We are excited about joining the GroundTruth team and starting the next chapter in that journey. Together we will be able to provide local businesses with advertising options and marketing tools that empower them to grow their business however they like. – Ben Bilbrough
Founded by Bilbrough in 2016, Addy had raised a total of $3.7M in reported equity funding. Backers in the company include RiverPark Ventures, WS Investments, Cabana Ventures, Cabana Ventures, Richard Parsons, Bill Apfelbaum, and Ronald Lauder Ventures. Addy offers options for local marketers to buy and place ads for print, out-of-home, television, direct mail, and creative services from its easy-to-use platform. The company was originally founded as Adverator and rebranded in 2019.
“We’ve been very successful at creating a customer experience focused on driving business performance and results for national brands and agencies,” remarked Steve McCarthy, CEO of GroundTruth. “The feedback we have received from our small business customers is that they need a more simplified process for ad buying on our platform. Acquiring Addy gives us the technology assets we need to deliver on our core commitment to provide a superior experience to all our customers, including local business owners.”
We’ve been very successful at creating a customer experience focused on driving business performance and results for national brands and agencies. The feedback we have received from our small business customers is that they need a more simplified process for ad buying on our platform. Acquiring Addy gives us the technology assets we need to deliver on our core commitment to provide a superior experience to all our customers, including local business owners. – Steve McCarthy
