MediaMath, the creator of the TerminalOne Marketing Operating System™ for digital marketers, today announced a $73.5 million Series C financing round, led by Boston-based growth equity firm Spring Lake Equity Partners, formerly the private equity arm of Tudor Investment Corporation. In addition to the Series C financing, MediaMath increased its debt facility to $105 million, for a total funding of more than $175 million.
The Series C financing also included participation from new investor, Akamai Technologies, Inc. (NASDAQ: AKAM), and existing investors Safeguard Scientifics (NYSE: SFE), Catalyst Investors, and Observatory Capital. The company debt facility was led and syndicated through Silicon Valley Bank.
“We are very pleased to have Spring Lake Equity Partners join the MediaMath family,” commented Joe Zawadzki (pictured), CEO of MediaMath. “Not only does their 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 funding will be used to continue MediaMath’s rapid global growth and support its new international offices in the EMEA, APAC, and Latin American markets. Furthermore, the proceeds will help develop and accelerate the introduction of new products and features of its flagship technology, the TerminalOne Marketing Operating System™, which enables modern marketers to reengineer their marketing for transformative results.
“We have been looking to back a leader in the digital marketing space for quite some time,” said Dan MacKeigan, partner at Spring Lake Equity Partners. “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. They clearly have a keen understanding of a marketer’s needs and a compelling long-term strategic vision. We are excited to support the company through this next phase of growth.”
GCA Savvian acted as exclusive financial advisor in connection with the equity portion of this transaction.
New Brand Positioning
“Performance Reimagined. Marketing Reengineered.”. the new positioning introduced today by MediaMath, exemplifies the company’s commitment to helping marketers drive transformative results through the use of technology and math.
“This is a very exciting time for me, personally, and for MediaMath,” said Zawadzki. “Since the start, we’ve been committed to providing technology that drives outcomes, transparency, and control for marketers – and doing so with simplicity. Now, however, marketers have reached level of sophistication in their understanding of technology – and a realization that the answer to scalable marketing isn’t found by making sense of a complex chart of logos – but instead in technological unification. ‘Performance Reimagined. Marketing Reengineered.’ epitomizes the innovative work we’ve been doing with our clients and our promise for the future.”
MediaMath, best known for founding the first demand-side platform (DSP) in 2007, changed the way digital media is purchased, and created a new, more efficient way for advertisers to reach consumers, individually, at scale. This introduction to what is today best known as programmatic media buying, helped agencies — large and small — establish new revenue streams and more effectively serve their end clients — advertisers.
Today, MediaMath continues to pioneer the digital marketing space with its TerminalOne Marketing Operating System™, an open, extensible platform used by marketers and their agencies to automate the execution of media buying, activate data, and optimize every interaction with consumers, across all digital channels, in real-time, based upon proprietary learning and decisioning algorithms.
‘Performance Reimagined. Marketing Reengineered.’ comes to life through a video on the company’s new home page, www.mediamath.com, and underscores the company’s promise of empowering modern marketers to reimagine the way their marketing performs by transforming the technology that powers it.
By focusing on the goals of their marketing strategies, a characteristic of the TerminalOne platform that is unique to MediaMath, the company helps marketers and their agencies achieve greater outcomes for their media budget, while driving truly transparent, accountable, and repeatable marketing.