MR Web: MediaMath Nets $73.5m Investment
June 4, 2014 – US-based MediaMath, which offers tools for digital ad buying, data management and other aspects of digital marketing, has raised $73.5m in a Series C round of funding, which it will use to fuel global expansion.
Founded in 2007, MediaMath’s TerminalOne platform brings together digital media and data to simplify the planning, execution, optimization and analysis of both direct response and branding campaigns. Earlier this year, MediaMath acquired Tactads, a firm providing cookie-less and cross-device ad targeting technologies, and last year, it bought the Advertising Decision Solutions (ADS) business of online management and measurement firm Akamai.
New funding has been led by Spring Lake Equity Partners, with participation from new investor Akamai Technologies, and existing investors Safeguard Scientifics, Catalyst Investors and Observatory Capital. The funds will be used to support international offices in the EMEA, APAC and Latin American markets; and to develop new products and features for TerminalOne.
CEO Joe Zawadzki comments: ‘We are very pleased to have Spring Lake Equity Partners join the MediaMath family. Not only does the firm’s investment represent a tremendous validation of our leadership position in the industry, but its strategic insights, deep relationships, and significant resources will play an important role in this next phase of the company's, and the industry's, evolution.’
In addition to the Series C, MediaMath has increased its debt facility to $105m, for a total funding of more than $175m.