FierceCMO: MediaMath Buys Audience Targeting Company Rare Crowds
MediaMath, which provides a demand-side platform, announced that it has acquired audience targeting company Rare Crowds. Financial terms of the deal were not disclosed.
Media Math said Rare Crowd’s technology will be integrated into its TerminalOne, enabling marketers to target more precisely across display, mobile, video and social. Rare Crowds’ technology, OpenAdStack, combines optimization techniques and machine learning algorithms to find targeted media.
As part of the acquisition, Rare Crowds’ CEO and co-founder Eric Picard will join MediaMath as VP of strategic partnerships.
“We’re especially excited to have Eric leading our efforts to extend programmatic to address the full media plan,” said Mike Lamb, CCO of MediaMath, in a statement. “We think there’s a huge opportunity for new technology to transform media planning and buying. The combination of Eric’s experience and leadership with Rare Crowds technology brings us two steps closer to delivering game-changing new capabilities for our clients.”
Rare Crowds angel investors include Peter Naylor, senior VP sales at Hulu and former chairman of the IAB; Rich LeFurgy, founder of the IAB; Dave Smith, CEO of Mediasmith; Tom Hespos, CMO of Underscore Marketing; and Nick Pahade, CEO of PopTent.
Last month, MediaMath bolstered its social offerings by acquiring social ad-tech company Upcast.
-See this MediaMath press release