• by Tobi Elkin  @tobielkin, February 15, 2017

Ad-tech firm AdTheorent on Wednesday said it received a “strategic growth investment” from H.I.G. Growth Partners (H.I.G.) in partnership with the company’s co-founders and existing investors. 

The company declined to disclose the amount of the capital investment, which was described by COO Scott Russo as “a private equity driven re-capitalization,” but said the funds will be used to invest in resources and technology that will help fuel growth and strengthen its market position. 

One of those resources has come in the form of a key hire. Former Yahoo executive Patrick Albano is joining AdTheorent as chief revenue officer. Albano will lead the company’s sales, marketing, account management, creative, and strategy organizations. He held various management roles at Yahoo, most recently  VP sales, strategy & solutions, Europe, Middle East & Africa. Prior to Yahoo, he held sales leadership positions with Sports Illustrated, About.com, and Citizen Sports, a social and mobile start up acquired by Yahoo in 2010.

AdTheorent’s machine learning capabilities are leading it into predictive advertising, which makes use of large and disparate pools of data to help spur user engagement and ROI for advertisers. 

Russo told Real-Time Daily via email that the funds will also help AdTheorent iterate on its tech stack. "Additionally, we will focus on growing the Barometric side of the business. Barometric is AdTheorent’s licensable cross-environment tracking and attribution platform,” he said.

AdTheorent was advised on the transaction by Douglas Melsheimer of Boston-based Bulger Partners. H.I.G. Growth Partners is the capital investment affiliate of H.I.G. Capital, a global private equity investment firm.