Philadelphia Adtech Startup Sidecar, Backed by $33.5M in Funding, Acquired by New York Competitor

Philadelphia advertising technology startup Sidecar has been acquired by New York-based competitor Quartile.

The deal closed last week, and the terms were not disclosed. Sidecar will take Quartile’s name, and the company will retain its office at One South Broad in Philadelphia. The acquisition will fold Sidecar’s 180 employees into Quartile, bringing the total headcount to 300.

Quartile CEO Daniel Knijnik will remain chief executive, and Sidecar CEO Andre Golsorkhi will serve as president of the company.

Sidecar is an e-commerce tech firm that uses artificial intelligence to help retailers determine where and how to market their products. It was founded in 2014 with a focus on the e-commerce space for small and large online retailers.

Sidecar raised a total $33.5 million in venture capital before the acquisition. It last raised a $7.5 million round in 2019. Investors included Ben Franklin Technology Partners of Southeastern Pennsylvania, Harbert Growth Partners, Osage Venture Partners, Ascent Venture Partners and Robin Hood Ventures.

Read the full article here.

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