Adtech startup Staq closed on $5 million in new funding as it looks to expand its platform for automating digital ad functions.
According to a press release, the round was led by New York-based Pereg Ventures. Genecast, Core Capital, Kinetic Ventures and Revel Partners also participated. The latest funding follows the company’s $2.5 million Series A in 2014.
The company, which has a growing office in Spark, makes a platform that helps digital advertisers integrate separate technologies involved in buying, selling and tracking ads. Currently, the platform has 350 integrations, and Staq is looking to expand that. New leadership hires are also in the company’s future.
“Digital advertising systems are growing in breadth and complexity. STAQ’s unique platform collects and streamlines information between systems, creating a more efficient and profitable scenario for the companies that use these vendors’ products,” Pereg Ventures’ Ziv Ben Barouch said in the release.
The company previously said it has partnered with publishers like Meredith Digital, DailyMail.com, Warner Bros., Gawker Media and The Weather Company.