AcuityAds Provides Update on the Adoption of illumin, Its New Advertising Automation Platform
New platform outpacing initial revenue projections, has robust new business pipeline
AcuityAds Holdings Inc., a leading technology company that enables advertisers to connect intelligently with audiences across digital advertising campaigns from a single platform, provided an update on its new advertising automation technology, illumin.
Revenue attributable to illumin exceeded $1.5 million in the fourth quarter of 2020, less than 90 days after the platform’s highly anticipated launch on October 1, 2020. While the Company had initially anticipated revenue from the platform to positively impact its overall performance by the second half of 2021, this timeline has been accelerated. Demand for the platform, both from clients that participated in the beta testing as well as clients new to the platform, has been greater than expected, with strong positive feedback.
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As a result of this higher demand, AcuityAds’ pipeline for the first quarter of 2021 is larger than expected, with business expected from new clients in industries such as home furnishings, finance & insurance, quick-serve restaurants and consumer packaged goods (CPG). Major brands representing industries such as direct-to-consumer (DTC) sales, health and wellness, finance, CPG, wine and spirits, and national restaurant chains, have already turned to illumin to close the gap between planning and execution of programmatic advertising. The Company’s pipeline is expected to contribute to significant sequential illumin revenue growth, with 85% of the pipeline demand from Fortune 1000 clients.
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“While we did not expect illumin to generate its first million dollars in revenues in 2020, we are absolutely thrilled to have already appreciably exceeded this major benchmark, and we are actively ramping up the team to support demand from our customers,” said Tal Hayek, CEO and Co-Founder of AcuityAds. “We believed that illumin would have a meaningful impact within the programmatic industry at large, yet we could not have anticipated the demand coming to fruition so quickly. illumin clearly fills a gap in the industry, and there is no solution on the market that offers the same visibility and control of real-time advertising performance across the consumer journey.”