Adtech company MediaMath has raised $225 million in private equity from Searchlight Capital Partners.
Aside from its sheer size, the investment is significant when one considers that the adtech industry is dominated by giants like Google. Still, investors are confident in the service MediaMath provides.
“Scaled [demand-side platforms] with strong [data management platforms] are the true winners [in the ad-tech] ecosystem,” Darren Glatt, partner at Searchlight Capital, told The Wall Street Journal.
We’re excited to have the people, products and partners to successfully deliver on the promise of making ‘marketing everyone truly loves’ – from consumers to advertisers to all participants in between.”
The company’s platforms allow advertisers to purchase digital ads using automated systems and store and manage their data. Founded in 2007, MediaMath was the first company to offer a demand-side platform, and it has come a long way ever since. To date, the company has raised a total of $607.5M in funding, and it’s reported that its valuation is now over $1 billion.
The latest investment comes about one year after MediaMath announced $175M in debt financing. Part of the funds will be used to buy out an investor, and the remainder will go toward acquisitions technological development.
“The marketing industry has reached a tipping point, with more than half of consumer time now spent on digitally connected devices, yet the challenges associated with connecting marketers with consumers to everyone’s benefit are still as palpable as ever,” CEO Joe Zawadzki said in a statement. “We’re excited to have the people, products and partners to successfully deliver on the promise of making ‘marketing everyone truly loves’ – from consumers to advertisers to all participants in between.”