Cohere Capital, a Boston-based private equity firm focused on investing in leading tech-enabled middle market companies, announced that it has made a strategic growth investment in San Luis Obispo, California-based iPromote. iPromote is a leading omni-channel digital advertising platform purpose built for small and medium-sized businesses (“SMBs”).
The Company’s software platform automates the creation, targeting, and execution of high quality, tailored digital advertising across web, mobile app, video, social and native ad channels, allowing SMB advertisers to cost effectively reach their desired audiences. The investment and partnership with Cohere will allow iPromote to continue to enhance its offering and further penetrate the underserved SMB digital advertising market through additional channel and agency partners.
Gregg Albright of iPromote, commented, “We are thrilled to partner with a team like Cohere with such deep digital advertising and media experience. The team and technology we have built at iPromote, paired with strategic resources from Cohere, will help us continue to serve our partners and customers with the best solutions to drive their growth.”
Nik Shah, Cohere Capital Managing Partner and Co-Founder, added, “The iPromote team has built an impressive and unique technology platform, which is evident in their history of growth within the local SMB market.” Daniel Gedney, Cohere Capital Principal and Co-Founder, added, “We are excited to partner with the management team to help drive iPromote’s continued success.”
Houlihan Lokey served as exclusive financial advisor to iPromote.
iPromote is a provider of digital advertising technology and solutions designed to help underserved SMBs access the high growth programmatic digital advertising market in an efficient and cost-effective way. For more information, visit: www.ipromote.com.
About Cohere Capital
Cohere Capital is a Boston-based private equity firm focused exclusively on middle market growth companies. Cohere Capital has a flexible mandate across growth markets, but primarily targets recapitalizations and growth investments in rapidly growing technology-enabled services companies. For more information, visit: www.coherecapital.com.