MediaMath,
the leading digital media-buying platform and services company, today
announced that it has secured $12.5 million in venture capital and debt
financing. The $10 million in venture financing was led by Safeguard
Scientifics, Inc. (NYSE:SFE), a holding company that builds value in
growth-stage life sciences and technology companies, with participation
from QED
Investors, a fund created by Capital One co-founder Nigel Morris,
and European
Founders Fund. An additional $2.5 million in debt financing was
secured from Silicon
Valley Bank. MediaMath will use the proceeds to fund its continued
expansion — with a focus on technology research and product development,
executive and staff recruitment, tactical acquisitions, and geographic
expansion.
“Partnering with MediaMath aligns with Safeguard’s core focus of
investing in growth-stage, entrepreneurial technology companies whose
competitive advantage in their market represents a sizeable
opportunity,” says Erik
Rasmussen, Vice President and Managing Director of the Technology
Group at Safeguard Scientifics, who will join MediaMath’s Board of
Directors. “MediaMath is the clear leader in web advertising management,
with hundreds of campaigns and tens of millions of spend successfully
delivered through the system. Their approach combines raw performance,
research and precise targeting ― all of which are critical elements to
successful marketing today.”
MediaMath was founded in 2007 and has grown into an industry leader. The
company serves billions of highly-targeted ads per month on behalf of
over twenty top-tier agencies, including all of the major agency holding
companies.
The MediaMath buying platform provides advertising agencies with the
technology and back office services to trade effectively across leading
display advertising sources. It includes a common interface and
workflow, data management layer that integrates marketer and third-party
data, PhD-designed algorithms and bid optimization, and deep
relationships with over a dozen major sources of quality supply,
including Yahoo!
RightMedia, Google’s
DoubleClick Advertising Exchange, Microsoft
AdECN, Facebook
and others.
“We invented the first demand-side media trading platform to help
agencies deliver increased client performance and insights at reduced
costs, and have spent the past two years scaling the most sophisticated
software and services offering in the industry,” says Joe Zawadzki,
MediaMath CEO. “The combination of Safeguard’s technology expertise and
resources as a publicly-traded firm, QED’s background in building
organizations with quantitative analytics at their core, and of course
the capital itself are going to help us accelerate our ability to meet
top-tier agencies’ specialized needs.”
ABOUT SAFEGUARD SCIENTIFICS
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc.
(NYSE:SFE) provides growth capital for entrepreneurial and innovative
life sciences and technology companies. Safeguard targets life sciences
companies in Molecular and Point-of-Care Diagnostics, Medical Devices,
Regenerative Medicine and Specialty Pharmaceuticals, and technology
companies in Internet / New Media, Financial Services IT and Healthcare
IT with capital requirements of up to $25 million. Safeguard
participates in expansion financings, corporate spin-outs, management
buyouts, recapitalizations, industry consolidations and early-stage
financings. www.safeguard.com
ABOUT MEDIAMATH
MediaMath’s automated buying platform provides advertising agencies with
access to tens of billions of impressions daily, and a simple workflow
that manages the powerful analytics and rich data necessary to make best
use of them. Headquartered in New York, the company was founded in 2007
by a team of seasoned entrepreneurs, marketers, technologists, and
quants. For more information, visit www.mediamath.com.
for MediaMath
Gregory FCA
Kristy DelMuto, 610-642-8253
Cell:
484-686-4775
Kristy@GregoryFCA.com