The partnership will help expand Deliveroo Media, which has previously focused on fast-moving consumer goods (FMCG) brands which have used Deliveroo’s media capabilities and audience for advertising campaigns.

SMG will seek to play a key role in accelerating Deliveroo Media in the UK and Republic of Ireland, including boosting user targeting and campaign insights, and introducing new formats for advertisers.

In addition, the partnership will seek opportunities to grow Deliveroo Media among non-endemic brands across a range of sectors, including media and entertainment, financial services, travel and technology, as well as FMCG.

Deliveroo said that it has sought to improve the advertiser experience through the launch of new features and enhanced targeting over the past year, increased relevance using machine learning models and launched new formats for non-endemic brands.

Carlo Mocci, chief business officer at Deliveroo, said: “I’m really proud of the advertising business we’ve built over the last three and a half years – and the strong growth we’ve seen.

“As we look to the future, we’ll offer enhanced user targeting, better campaign insights and new formats to advertisers. I’m excited to partner with SMG to drive further uptake in FMCG and non-endemic advertising and seize the opportunities ahead of us as we continue to grow our advertising business.”

Sam Knights, chief executive officer at SMG, said: “It’s becoming increasingly clear that different commerce media networks can deliver highly differentiated and powerful opportunities, and SMG is truly excited about the potential for Deliveroo Media to leverage its position as a recognised leading hyperlocal food delivery marketplace.

“We’re excited to be using our 16 years of expertise in running media networks to maximise the opportunity for Deliveroo Media.”