Private equity firm GTCR announced it has signed a definitive agreement to acquire a majority stake in Simpli.fi. The transaction is expected to close in late September, 2017.
Headquartered in Fort Worth, TX, Simpli.fi provides a programmatic platform that enables the largest buyers of localized advertising, including local media groups and agencies, to execute high volumes of hyper-targeted campaigns across a variety of digital ad formats and device types. Simpli.fi had previously raised $22.34 million from Contour Venture Partners, Frontier Capital, and Progress Ventures.
GTCR will partner with Simpli.fi co-founders Frost Prioleau and Paul Harrison and the current management team as they continue to expand the company’s capabilities and market presence.
“Frost, Paul and the Simpli.fi team have built a strong business serving a unique niche that is well-positioned for continued success in a rapidly growing industry,” said GTCR Managing Director Craig Bondy in an official announcement. “As both large and small advertisers look to localize and personalize their campaigns, Simpli.fi’s platform, through the use of unstructured data, will help them better connect with their target audiences.”