Admattic’s India bet: Profits, people, and IPO prep

Admattic, a global provider of performance marketing solutions, announced its formal entry into India last week. While it has been actively engaged in the region, this move comes as the company plans to go public in the next three years.

With a global presence spanning APAC, GCC, MENA, LATAM, US, and European markets, Admattic has established offices in Mumbai, Gurgaon, and Bengaluru. The US-headquartered company was founded in 2021 to deliver publisher-driven, brand-safe advertising solutions that prioritise scale, performance, and creative excellence. Its global revenue grew from $10.2 million in FY2023 to $14.5 million in FY2024. It is now projecting $21 million in revenue for FY2025.

Admattic’s chief growth officer, Abhinay Tiwari, confirmed to Campaign, “We are already a profitable company that is EBITDA-positive, and are on track to strengthen this further." With break-even already in the bag, the next frontier is deepening profitability while expanding aggressively.

India, unsurprisingly, plays a central role in Admattic’s IPO script. Tiwari estimates that the country will contribute 40-45% of total revenue in the next fiscal year.

The rationale why the company is betting big on India's digital advertising is clear. This sector is on a steep upward curve, with projections indicating a 20.2% surge in 2025, taking the market to INR 59,200 crore by year-end, according to the Dentsu Digital Advertising Report.

The momentum is expected to sustain, with the digital ad pie growing at a CAGR of 19.09%, hitting INR 69,856 crore in 2026. At that point, digital will not only outpace traditional formats like television and print but will also command a dominant 61% share of the country's total ad expenditure. “Given India’s burgeoning digital economy and rapid adoption of new technologies, we project that India will contribute significantly," Tiwari adds.

But localisation is key to capitalise on this growth. Hence, Admattic plans to tailor offerings specifically to Indian business contexts while investing in tech infrastructure that can adapt quickly to market shifts.

That market shift is already well underway. AI-driven programmatic advertising has seen a 40% increase in adoption and is delivering a 30% improvement in conversion rates.

Admattic is making the most of this momentum through its AI-powered platform and partner DSPs. "Our AI algorithms process vast datasets in real-time, enabling us to deliver highly targeted, personalised ads to the right audience at the optimal time," Tiwari says.

The platform auto-adjusts bids based on user engagement and behaviour. Add to this the push on connected TV, remarketing, and retargeting— resulting in a strategy focused not only on clicks but on long-term customer value.

But it's not all about chasing data; it's also about how that data is managed. With global pushback against third-party cookies and a raft of new data privacy regulations, Admattic is leaning hard into first-party data.

"As third-party cookie restrictions increase and data privacy concerns grow, Admattic helps clients leverage first-party data for hyper-targeted campaigns," says Tiwari. The company is actively aligning with GDPR, CCPA, and India’s DPDP Act of 2023. Built-in transparency features allow clients to monitor data usage while maintaining compliance—not just a legal must, but a reputational imperative in today's environment.

Vibhor Bansal, chief business officer, Admattic.

Where the Indian market really tests its mettle is in the diversity of brand needs. Admattic is not walking in with a standard playbook. "India is a vast and diverse market, and we recognise that a one-size-fits-all approach doesn’t work," the company’s chief business officer, Vibhor Bansal told Campaign.

The company is tailoring programmatic solutions for sectors like e-commerce, gaming, and fintech, each of which has distinct KPIs. In gaming, it's all about ROAS and user retention. For e-commerce, behavioural targeting drives conversions. And fintech needs full-funnel campaigns that handle awareness, consideration, and conversion with equal dexterity.

Admattic’s nuanced approach extends to how it works with global players. Rather than positioning itself in opposition to the likes of Google DV360, Xandr, and The Trade Desk, Admattic sees them as part of the ecosystem. "We don’t see global platforms like Google DV360, Xandr, and The Trade Desk as competitors but as valuable extensions of our capabilities," Bansal says. The strategy? Layer Admattic’s AI muscle and custom strategies on top of existing global infrastructure to deliver client-specific results.

The company claimed that another key differentiator is its commitment to brand safety and premium publisher environments. With misinformation, ad fraud, and questionable content still plaguing the open web, an emphasis on trusted, quality placements could be a game-changer.

“Our partnerships with top-tier publishers, ad exchanges, OEMs, and direct publishers ensure that our clients’ ads appear in trusted, safe environments,” says Bansal. The company enforces a rigorous vetting process to maintain content quality and audience engagement standards. For clients in sensitive verticals like fintech and health, that’s not a nice-to-have—it’s non-negotiable.

With operations in the USA, Philippines, Indonesia, Dubai and now India, Admattic has collaborated with brands like Grab, Ed-a-Mamma, GCash, Zalora, Lalamove, Careem, Krafton, and Superplay.

It is clear that Admattic is not treating India as an afterthought. A significant chunk of its investment is being directed towards building a robust local team.

“We are building a strong local team by recruiting top talent with deep expertise in the Indian market," says Bansal. Simultaneously, the company is pouring capital into its tech stack—AI, machine learning, and automation are top of the priority list. With offices strategically placed across Mumbai, Gurgaon, and Bengaluru, the execution plan hinges on cross-functional collaboration and fast iteration.

This India playbook isn’t just about presence; it’s about performance. With a firm focus on technology, compliance, and contextual customisation, Admattic is positioning itself as more than just another DSP entering the subcontinent. It’s making a calculated, data-backed wager that India will be a cornerstone of its IPO dreams.

And if the bets play out as forecast, Admattic is likely to play a more visible role—not just in earnings calls, but on the digital highways of India’s ever-expanding ad landscape.