Smart AdServer has received an investment from Capital Croissance which makes the France-based investment fund the new majority shareholder in the ad tech platform. Capital Croissance completed a management buyout of current investor Cathy Capital, which will retain a minority stake in the company.

On the back of the investment, Smart will look to continue its US and international expansion as well as consolidate its verticalisation strategy.

“Independence is key to our mission of bringing buyers and sellers closer together in a fully transparent, efficient and fair advertising market. With Capital Croissance’s active support, we will continue to build an ad tech powerhouse as a truly autonomous supply- and demand-side alternative to Google,” said Arnaud Créput, Smart’s CEO.

The transaction, which also included investment from Idinvest and Adelie Capital, will see Smart’s management team raise its collective stake from eight per cent to 15 per cent.

Smart was founded back in 2001 as part of French publisher AuFeminin. It spun out into an independent platform in 2015 and has since managed to grow to having 12 global offices, amassing a revenue of €140m in 2020.