Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Perion buys Ukrainian AI startup ‘Captain Growth’

Israeli Internet company Perion Network will pay up to $3.5 million (roughly £2.6 million) to acquire Kiev-based AI company Septa Communications, the company announced on Monday.

The start-up, also known as “Captain Growth”, will join the Synchronized Digital Branding division of Undertone, a company that Perion bought in 2015 for $180 million.

“Captain Growth was launched in 2017 with the vision of replacing current AI systems – ‘black boxes’ which offer virtually no user control functionality, no transparency, and no ability to find and scale the most valuable ad units – with a next-generation system,” Perion said commenting on the news.

“Those inherent problems are all addressed with the Captain Growth platform, which ingests and analyses ad performance data – including results by segments, creative and budget – and delivers ‘Value Unlock’ recommendations which users can accept or reject.”

Upon accepting the recommendations, Perion said,  the system will implement them automatically. The integration of Captain Growth’s AI capabilities into Undertone will allow campaigns to be optimised based on precision placement driven by AI-driven calculations.

“We couldn’t think of a better home for Captain Growth than Undertone, and better partners than Mr Gerstel and his team,” said Mr Dmytro Plieshakov and Mr Dmytro Bilash, co-founders of Captain Growth.

“We believe that the integration of our platform into Undertone will deliver unprecedented growth opportunities to brands who are focused on both deep relationships with users, and key performance drivers.”

According to the company’s website, the Undertone platform aims “to eliminate fragmentation, deliver much-needed revenue for publishers and, most importantly, ensures brand messaging is contextually relevant.” With this aim, Undertone delivers creative and in brand-safe campaigns that align with key performance indicators.

“The level of AI sophistication that Captain Growth brings to Undertone represents an important step in executing our strategic vision and plan,” said Perion CEO Doron Gerstel.

“With Captain Growth’s proprietary ‘Value Unlock’ technology, our synchronisation will now give brands the critical ability to benefit from putting the best-performing units in front of the right users at the right time – for unprecedented cross-channel engagement.”

Image via Max Pixel.

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