On June 21, 2023, Optable announced that it raised $20 million in a Series A financing round from a syndicate of investors which included among other Hearst Ventures, Brightspark Ventures, Desjardins Capital, Deloitte Ventures and asterX. Optical plans to utilize this funding towards their marketing and sales initiatives.
In addition, Hearst Ventures and Optable have entered in a commercial agreement for Hearst to advance the value and usage of their data through Optable’s platform.
Hearst Ventures is the global venture capital division of Hearst.
Optable operates as a data clean room solution cultivated for privacy measures in the advertising industry.
Osler, Hoskin & Harcourt LLP advised Hearst with a team consisting of Ryan Unruch and Jennifer Humphrey (Emerging and High Growth Companies).