Biz Journals: MediaMath Puts Funding Round to Work, Acquires Rare Crowds
The ad-tech firm MediaMath has made another acquisition, picking up Rare Crowds, a young angel investor-backed firm that builds software that finds the ideal digital media for advertising campaigns.
In the deal, Rare Crowds CEO and cofounder Eric Picard will join MediaMath’s senior leadership team. He becomes vice president of strategic partnerships, a portfolio that includes the company’s crucial relationship with cloud server provider Akamai. Rare Crowds’ technology will be integrated into MediaMath’s primary product, the TerminalOne platform for ad sales planning and buying.
Picard is a 20-year veteran of the advertising technology industry, including management stints at Microsoft, TRAFFIQ and Bluestreak.
“We’re especially excited to have Eric leading our efforts to extend programmatic to address the full media plan,” said Mike Lamb, MediaMath’s chief commercial officer. “We think there’s a huge opportunity for new technology to transforms media planning and buying.”
Bellevue, Wash.-based Rare Crowds was backed by individual investors from the advertising industry, including former Interactive Advertising Bureau Chariman Peter Naylor and PopTent CEO Nick Pahade.
Times Square-based MediaMath has been looking for small acquisition targets since raisinga large investment round in June.