Dublin, Ireland 13th January 2023: CBPE Capital LLP (“CBPE”) and Snigel Web Services Limited (“Snigel”) are pleased to announce that CBPE has made a significant investment in Snigel, a leading advertising technology company that helps online publishers (website owners) monetize their traffic through programmatic advertising.
CBPE is excited to support Snigel’s significant expansion plans as the company builds on the market-leading results that Snigel’s technology and ad management teams deliver for publishers.
Headquartered in Dublin, Snigel is a global advertising technology business that enables publishers to grow their ad revenue while optimizing the user experience and solving all data privacy requirements. Snigel’s leading results are driven by its proprietary technology platform, AdEngine, which leverages Machine Learning to match the optimal ad to each available impression, resulting in better outcomes for both publishers and advertisers. Snigel continues to build on its technological lead with a new wave of product releases, including AI-powered ad setup optimization tools, automated UI customization, and data analytics. Snigel also offers dedicated support and customized ad setups to each of its publisher customers through its global Ad Operations team.
The business was founded in 2012 by former Google executives and has established itself as the trusted monetization partner to a fast-growing cohort of premium websites. The business is driven by a clear focus on publishers, contributing to a healthy AdTech ecosystem, and a collaborative culture of excellence. This, along with the deep technological expertise of Snigel’s team, has led to rapid revenue growth of over 40% CAGR since 2020. Snigel has been featured on Deloitte’s Technology Fast 50 list for three years in a row.
CBPE’s investment will allow Snigel to expedite growth in its core markets of Europe and the United States whilst expanding its market-leading technology offering.
The investment in Snigel continues CBPE’s successful track record of partnering with technology software and services companies and their management teams, including current investments in Mindera and The Key and past investments such as Xceptor.
The terms of the transaction have not been disclosed, but the founders will remain the largest private shareholders as they stand behind the long-term growth potential of the business. CBPE will enter as the majority shareholder.
Christian Jeschko and Ben Rycroft, Co-CEOs of Snigel, said: “This exciting step for Snigel enables us to accelerate investment in our technology and commercial infrastructure to deliver even more value for our publisher partners. Publishers continue to be the core focus at Snigel. We are determined and inspired in our mission to drive long-term revenue growth and better user experiences for publishers so they can focus on creating great content and growing their audiences. While we spoke to many potential partners, our shared vision for growth with the CBPE team along with the collaborative and productive relationship we established together, made them the ideal partner to support our ambitious growth plans.”
Richard Thompson, Partner, CBPE, said: “Snigel has excellent technology, a strong and collegiate management team, and a great culture. We are delighted to have the opportunity to partner with Snigel at such an exciting time for the business, supporting the next stage of its growth journey to invest further to expand across existing and new geographies both organically and inorganically. We believe Snigel is ideally placed to take advantage of the high levels of market demand driven by the ongoing growth in Digital Marketing spend.”
The deal was led by Richard Thompson with support from Tom McDonnell and Maximilian O’Connell. Richard Thompson and Tom McDonnell will join the Snigel Board from CBPE.
CBPE was advised by JEGI Clarity (M&A and Debt), Proskauer Rose and William Fry (Legal), BDO (Financial & Tax), PwC (Commercial), Intechnica (IT), and Howdens (Insurance). Snigel was advised by Deloitte (M&A) and Philip Lee (Legal).
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About Snigel:
Snigel is an award-winning advertising technology company that helps online publishers (website owners) maximize their ad revenue through programmatic advertising. Founded in 2012 by two former Google executives, Snigel made it into the Financial Times' top 1,000 fastest-growing European companies index in 2021 and Deloitte Ireland’s Fast 50 index in 2020, 2021, and 2022. Over 100 of the world’s largest websites rely on the market-leading results from Snigel’s monetization technology and their veteran team of ad operations experts. Snigel’s headquarters are in Dublin, with remote teams spread across Austria, Portugal, Ukraine, Poland, Germany, and the UK.
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