Chicago-based Centro, a maker of advertising software, is acquiring a California predictive advertising technology company.
Centro announced Wednesday that it is acquiring QuanticMind, which makes predictive advertising tech for the internet. The platform uses artificial intelligence and machine learning to analyze data, and provide marketing and search-engine intelligence.
Terms of the deal were not disclosed.
By acquiring QuanticMind, Centro will be able to improve its SaaS offering, Basis, an automated digital media platform for marketers. Since Centro launched the product in 2018, the company says more than 500 agencies and marketers have used it.
Founded in 2011, QuanticMind has raised more than $30 million in funding, according to Crunchbase. The company’s 30 employees are joining Centro, which has 700 employees across 44 offices in North America, South America and Europe.
The company says it is also currently hiring for more than 150 roles across its product, engineering, data science, operations and sales teams.
Founded in 2001 by CEO Shawn Riegsecker, Centro has raised more than $50 million to date, and over the last few years has been pegged as a Chicago company poised for a potential IPO or acquisition.
"Centro is far ahead in building for marketers the most comprehensive omnichannel digital advertising platform," Riegsecker said in a statement. "QuanticMind drives our vision by enabling us to weave PPC and search advertising seamlessly alongside all other digital capabilities."
