Irish adtech company Snigel secures backing from CBPE to fuel global expansion. An inside look

Irish adtech company Snigel secures backing from CBPE to fuel global expansion. An inside look

Time Stamp: January 27, 2023 3:40 AM
Source Node: 1926961

Headquartered in Dublin with remote teams spread across Europe, Snigel aims to help online publishers maximise ad revenue. The company, which has been repeatedly recognised by Deloitte’s Fast 50 Index, has secured a strategic investment partnership with CBPE to accelerate growth plans. We get an inside look. 

Adtech is a fundamental part of digital marketing strategy and as the world has gone increasingly digital, it’s grown in importance. Businesses ultimately need to share their brand, sell their product, and become visible – in a digital world, adtech helps achieve that whilst optimizing budget expenditure.

Irish startup Snigel has been a key part of this evolving market since its 2012 launch, and now, it’s secured a significant partnership agreement with CBPE Capital to scale. The company helps online publishers monetize their traffic through programmatic advertising and access to Google AdX. Essentially, it helps deliver long-term revenue growth and better user experiences. 

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.”

The investment, whilst undisclosed, is said to be a significant sum – and offering a substantial boost to the company’s ambitious growth plans. Gross revenues for the company were just over €40 million in 2022. With this new investment, CBPE will become the majority shareholder of Snigel. 

The investment will go towards Snigel’s commercial infrastructure and launching a range of new products, including AI-powered optimisation tools and data analytics.

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.”

Founded in Dublin in 2012 by former Google execs, Snigel has established itself within the adtech market. It’s trusted as a monetization partner to a fast-growing cohort of premium websites and is recognised by Deloitte’s Fast 50 Index. The company operates on a culture of flexibility and leverages remote teams across Austria, Portugal, Ukraine, Poland, Germany, and the UK. 

We caught up with co-CEO, Ben Rycroft, to learn more about the company, the future of adtech, and how this partnership will help them grow.

How is Snigel helping develop the future of adtech?

“Snigel helps publishers achieve a balance between monetization and user experience. This ensures long-term traffic growth which ultimately drives up revenue. This sustainability in the adtech ecosystem is key for us. 

Adtech continues to be a complex and fast-moving space, so our team and solutions must adapt and evolve. We’re currently implementing and optimizing a range of 3rd party cookie alternatives to boost performance through 2024 and beyond. This includes alternative IDs, contextual targeting, using first-party data and others.

The adtech industry is in the midst of a transition that will improve user privacy. Snigel is supporting this approach by implementing contextual targeting and working with partners to focus on cohorts over individuals. We will continue to support the ethical adtech movement and help achieve a better balance for users, publishers and advertisers.”

What plans do you have for this investment?

“CBPE is backing the Snigel team to further scale the business. This includes investing in Snigel’s commercial infrastructure and launching a range of new products including AI-powered optimisation tools and data analytics.

Long-term, we believe that the performance of adtech solutions will increasingly rely on accurate data. We’re planning several exciting product launches in this area over the next 12 months.”

What are the benefits of growing a remote team from Ireland?

“Snigel has been a remote company since day one, long before COVID. This policy means we can hire the best people available regardless of location. In addition, we’ve seen high employee satisfaction scores as we’re able to provide flexibility to employees and remove the need to commute to the office. Dublin is an ideal place for our headquarters. It’s a well-connected city with a strong and diverse talent pool to draw from.” 

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