District M, an adtech company that provides programmatic solutions for publishers and advertisers, announced $8 million in funding from Fonds de solidarité FTQ, a development capital fund that directs the savings of Quebecers into investments.
District M, which was founded in 2013, allows publishers to maximize their online advertising revenues through campaign distribution platforms and data targeting strategies. The company has delivered over 1,200 campaigns per year for national and local advertisers, and currently has 42 employees scattered through offices in Montreal, Toronto, and New York.
District M plans to use the $8 million in funding towards ongoing investments in technology to help the company grow as an digital advertising company in Canada, as well as double its employees over the next two years.
“We’re very pleased to have the Fonds de solidarité FTQ as a partner. Their support will allow us to forge ahead with our business plan and particularly, solidify our investments in technology and recruit talent to maximize our growth in Canada, the U.S., and abroad,” said Jean-François Côté, District M’s CEO. “One of the ways we’ll do this is by opening additional offices in the months ahead. We know we can take District M even further.”
District M was selected as Jury’s Favorite at the 2015 edition of Deloitte’s Technology Fast 50 and by the Canadian Technology Accelerator (CTA) as one of the six most promising Canadian digital technology companies.