Toronto-based Ad Tech Company Also Announces Significant Investment from Fort Point Capital
Polar, the industry leader in Social Display advertising, has changed its name to Nova. The Nova banner will serve the company’s entire client base: publishers, agencies, brands, ad tech platforms, CTV providers, and retail media.
Nova is also launching CTV and other new video formats. Nova can now convert any video on social media into a VAST-enabled ad to run online or on CTV. The move is part of a larger strategy expanding the company’s creative automation platform, maximizing the value of creative assets as advertisers face increasing challenges with data and targeting.
Lastly, Nova has received a significant investment from Fort Point Capital, a Boston-based private equity fund with experience investing in growing marketing and technology businesses.
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From CEO and founder Kunal Gupta, “We pioneered the Social Display category, creating the technology to run best-performing social posts in the open web’s ad inventory. Social Display continues to unlock huge performance gains for advertisers. Now, with this investment from Fort Point, we’re taking what we’ve learned from delivering over 75 billion ad impressions and expanding our platform of performance-based ad products.”
Fort Point Capital partner Brooke Ablon commented, “We’re excited to partner with Nova’s management team as they expand Social Display into a broader performance enhancement platform. It’s more important than ever that advertisers see clear returns from digital campaigns. Nova makes this possible through its growing portfolio of creative formats and automation tools.”
On CTV, Nova president Matt Crenshaw added, ” The cost of creative shouldn’t be a barrier to reaching audiences for the thousands of small to midsize advertisers. We’re providing more value out of what they have that’s already working with a cost effective extension of their social feeds into CTV and other video inventory.”
“We have a great partnership with Nova led with many campaigns with Nova’s creative formats that have seen tremendous success,” said Mike Juhas, SVP, Client and Optimization Services of Digital Remedy. “We’re excited as Nova pushes beyond social display into new directions offering our partners powerful creative solutions as part of Digital Remedy’s unmatched performance CTV and video solutions.”
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