ExchangeWire: MediaMath raises $175m war chest
June 6, 2014 – ExchangeWire rounds up some of the biggest stories in the European digital advertising space.
This week, ExchangeWire delves into MediaMath’s monster funding round, revisits the AppNexus Summit where its new acquisition Alenty played a starring role, and charts the latest movements from online media giants Google, Twitter and Facebook.
MediaMath raises $175m war chest
MediaMath this week hit the headlines by raising $73.5m in series C funding, led by Boston-based growth equity firm Spring Lake Equity Partners, plus increased its debt facility to $105 million, for a total funding of more than $175 million.
The funding will be used to boost its expansion in continental Europe, APAC, and Latin America , as well as boost its product portfolio, as well as further booster its ability to offer advertisers premium inventory.
Dave Reed, MediaMath, managing director, EMEA, told ExchangeWire the firm will focus on developing mobile-centric services, such as increasing advertisers’ access to premium in-app inventory. In addition, the company aims to use the funds to develop its multi-touch attribution products to also accommodate the move to mobile.
“Basically, we want to use this to help give advertisers more access to inventory outside of the long tail,” he said. “We’re also working on some exciting developments in workflow, and user experience products on data management.”
MediaMath’s aim is to open up its APIs so third parities can build products on top of its platform – similar to the way The Guardian has parterres with the company – according to Reed.
“As [ad] dollars flow into digital, we want to increase investment in digital,” he said commenting on the funding round. “MediaMath is profitable and EBITDGA-positive, and through organic growth we were doing okay, we just saw this [funding round] as an opportunity to accelerate our growth”