Israeli company Perion acquires Ukrainian AI startup Captain Growth for $3.75 million

Israeli company Perion Network announced the acquisition of a Ukrainian startup Septa Communications better known as Captain Growth. The amount of the deal is $3.75 million. Part of the money will be paid directly during the takeover of the company, the rest of the amount the startup will receive within two years when the KPIs are met. The journalists of tech.eu were the first to pay attention to the acquisition.

Perion Network is engaged in advertising solutions for publishers and brands. The company was founded in 1999 under the name IncrediMail and was engaged in the development of the e-mail client of the same name. In 2006, the company shares on the stock exchange and in 2011 changed its name to Perion. By 2015, Perion’s revenue reached $330 million.

Septa Communications is a Ukrainian startup founded by Dmytro Pleshakov and Dmytro Bilash in 2017. The founders launched the project after managing their own digital agency.

The company is developing a project called Captain Growth. This is an AI product that can analyze advertising and manage clients’ marketing activities. Previously, the team participated in the StartAD accelerator and did not attract investments.

According to Perion CEO Doron Gerstel, Captain Growth technologies will help Perion to better target advertising for brands and find relevant audiences.

Previously, AIN.UA reported that Ukrainian Genesis acquires OLX across five African markets.