Adtech Company MediaMath Secures $175M Credit Facility

June 7, 2017 — by Amarita Bansal    

This article originally appeared on TechCrunch.

MediaMath, a company offering tools and data for automated ad-buying, announced today that it has secured a $175 million credit facility.

The deal was led by Goldman Sachs, with participation from Santander Bank.

The company says this financing will fund its continued growth and allow it to refinance existing debt. (MediaMath’s 2014 funding round included $105 million in debt.)

In a note to MediaMath employees, CFO Stacey Bain said this doesn’t mean the company chose more debt “instead of” an equity funding round: “In fact, this line of credit allows us to be flexible in terms of how and when we decide to raise another round of equity, ensuring we get the best deal for MediaMath.”

And while the IPO market seems to be improving for tech companies (including, perhaps, adtech), Bain also wrote that this isn’t setting MediaMath up to go public: “Right now, we like operating privately and we’ll explore an IPO when and if it makes sense for MediaMath.”

The company says it now has nearly 700 employees and works with all of the major ad holding companies.

“We’re thrilled to work with Goldman Sachs and Santander, who are equally ambitious to support the growing scale of our business today, and motivated to support the needs of a reimagined and increasingly sophisticated supply chain in the future,” said CEO Joe Zawadzki in the funding release.

Amarita Bansal

Amarita Bansal is Senior Content Manager at MediaMath. In her role, Amarita provides thought leadership in the adtech space by fostering relationships across every team at MediaMath, producing content for the blog, demand generation initiatives, media placements and bylines. She also guides the content strategy for our account-based marketing efforts. Born and raised in West London, New York City is now her adopted home town. An alumna of Northwestern University’s Medill School of Journalism, Amarita has produced content across all digital platforms, previously working at Associated Press in the London bureau. She's a pilates enthusiast and loves to go giggin’.