Ad-tech company MediaMath raises $225 million
This article was originally published in The Wall Street Journal.
Ad-tech company MediaMath has raised $225 million from investment firm Searchlight Capital Partners, an unusually large funding round in a sector rife with turbulence and consolidation.
New York-based MediaMath has raised more than $500 million to date. The latest round values the company at north of $1 billion, according to a person familiar with the matter.
MediaMath operates a demand-side platform, or DSP — technology that lets advertisers and their agencies buy online ads using automated systems — and a data-management platform, or DMP, which lets advertisers store and analyze their data.
Some of the new funds will be directed toward buying out one of MediaMath’s investors, Safeguard Scientifics, the publicly-traded technology investment company that said in January it would stop investing in new companies amid a cost-cutting drive.
MediaMath Chief Executive Joe Zawadzki said the company would also use the funding on acquisitions and to accelerate its development of technology in areas including identity, artificial intelligence, connected-television and digital out-of-home advertising.
Mr. Zawadzki said MediaMath has grown every year for the past 11 years and now the marketing industry is looking for a “reevaluation of the next set of capabilities that need to get invented and implemented.”
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