The Drum: MediaMath Raises More Than $175 In New Funding Round to Fuel Global Growth
June 4, 2014 – Ad tech and data firm MediaMath has raised over $175m through a $73.5m financing round and a $105m increase in its debt facility.
The series C funding round was led by Spring Lake Equity Partners and involved Akamai Technologies, Safeguad Scientifics, Catalyst Investors and Observatory Capital. It follows a series B funding round in 2011 which raised $14m.
The finance will be used to fund MediaMath’s global expansion and develop new products.
Dan MacKeigan, partner at Spring lake Equity Partners, said: “We have been looking to back a lender in the digital marketing space for quite some time. MediaMath’s leading industry position, buoyed by their remarkable triple-digit year-over-year growth and best-in-class marketing platform, presented us with an opportunity that we could not pass up.”
Joe Zawadzki, CEO of MediaMath, added: “Not only does this investment in the company represent a tremendous validation of our leadership position in the industry, but their 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, helping us continue our global expansion and technological innovation.”
The move follows MediaMath’s acquisition of Tactads in April, a provider of cookie-less and cross-device targeting technologies.