‘We need a fundamental rethink’: MediaMath, long seen as an ad tech takeover target, is instead building a war chest to fix a broken industry
This article was originally published in Business Insider.
The math is starting to add up for ad tech.
Just a few weeks after AT&T snatched up the New York ad tech company AppNexus for $1.6 billion, another big ad tech name is getting a major cash infusion.
MediaMath, which operates one of the more prominent ad buying platforms in digital media (i.e. a ‘demand side platform’), has just announced a whopping $225 million in new financing, led by the private equity firm Searchlight Capital Partners.
CEO Joe Zawadzki said that MediaMath will continue to operate independently following the new funding, as Searchlight is acquiring a minority stake in the firm.
MediaMath – which also helps many big advertisers manage their digital customer data – has been around for over a decade. Over that time it has raised over $500 million.
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