MediaPost: MediaMath Raises $73.5M, Increases Debt Facility To $105M
MediaMath, a demand-side platform (DSP), on Tuesday announced it has closed a $73.5 million Series C round of financing. The company also announced it has increased its debt facility to $105 million. In combination, MediaMath now has a fresh $175 million to play with.
The Series C round of funding was led by Boston-based Spring Lake Equity Partners, which was formerly the private equity arm of Tudor Investment Corporation. Other participants included existing investors Safeguard Scientifics, Catalyst Investors and Observatory Capital. New investor Akamai Technology also participated.
The company debt facility was led and syndicated through Silican Valley Bank, per a release. A company representative explained that “debt facility” means that MediaMath was given the ability to “draw against its assets for working capital purposes.”
MediaMath says it will use the funding to support international growth, specifically in EMEA, APAC and Latin American marketers. The company also intends to use the new funding to improve its DSP.
The company has also launch its new branding initiative with the accompanying slogan: “Performance Reimagined. Marketing Reengineered.”