NY ad tech firm MediaMath plans growth in Cambridge
MediaMath, a fast-growing New York advertising technology company, plans to expand its engineering-focused office in Cambridge — which originated through an acquisition from Akamai Technologies in January.
The office is headed by MediaMath director of engineering Eddie Fagin, who discussed it in an interview last week.
MediaMath offers technologies for programmatic advertising, which uses data and artificial intelligence to make highly targeted ad buys.
The firm's top competitors include Boston-based DataXu. MediaMath's revenue for 2012 was $180 million, up from $77 million in 2011; DataXu saw $87 million in revenue in 2012. Both firms were founded in 2007.
Programmatic has surged in popularity in recent years — as underscored by the recent IPOs of Rocket Fuel Software and Criteo and the acquisition of Boston-based Jumptap by Millennial Media.
MediaMath employs about 300 overall, with 70 of those employees in Cambridge, Fagin said. While specifics on hiring plans aren't being disclosed, "we are looking to grow the Cambridge office for sure," he said. The Cambridge office is located at 245 First St.
The office stems from Cambridge-based Akamai's Advertising Decision Solutions business, which MediaMath acquired for undisclosed terms. Fagin, an MIT grad who'd previously been a senior software engineer at Akamai, joined MediaMath through the acquisition.
MediaMath specializes in simplifying the process of collecting and analyzing data for companies — through its TerminalOne system — for the purposes of turning the companies into "data-driven marketers," Fagin said.
"Data is the lifeblood of the ad tech industry," he said. "We're offering a big-data solution where you can jump in and analyze data at scale, and make it actionable."
MediaMath has raised at least $30 million in funding to date; investors include SJF Ventures, QED Investors, Safeguard Scientifics and Catalyst Investors.