Canadian venture capital firm BEST Fund has invested $3 million in Toronto's AcuityAds.
The debt deal will be used as growth capital for AcuityAds, which aims to "continue to accelerate the rapid sales of the company."
"We are excited to be working with this fast moving, high potential company and are pleased to provide them with the capital needed to expand on their success to date," noted John Richardson, CEO of BEST Funds, which provides needed capital to emerging technology companies in order to aid them in accelerating growth and expanding market share.
"The online media landscape is undergoing a fundamental transformation and we are excited to be playing a role in these changes," says Tal Hayek, CEO of AcuityAds. "This investment will allow us to continue to pioneer these shifts in the future."
AcuityAds is a hyper-targeted platform for executing programmatic transactions in online digital media.