USD 225 Million Raised by @MediaMath
Searchlight Capital Partners are no stranger to good investments in OOH (think Ocean Group, TouchTunes etc.) and now they’ve made an in interesting USD 225 million investment in Ad-tech company MediaMath.
New York-based MediaMath has raised more than USD 500 million to date and this latest round values the company at north of USD one billion, according to people we spoke with in New York.
Those who’ve followed or been to any of the Ministry of New Media automation and programmatic buying workshops and conference over the last 12 months will know that MediaMath operates a demand-side platform (DSP), i.e. technology that lets advertisers and their agencies buy digital ads using automated systems, as well as a data-management platform (DMP) which lets advertisers store and analyse their data.
We understand that some of the new funding will be used to buy out Safeguard Scientifics, one of MediaMath’s early investors. MediaMath Chief Executive Joe Zawadzki told us that he also used the funding on acquisitions and to accelerate development of technology in areas including identity, artificial intelligence, connected-television and digital out-of-home advertising.
Searchlight Capital Partners’ other current investments include cloud-computing provider Rackspace, in-store background music and in-venue music platform Octave Group and Hemisphere Media Group, a U.S. broadcast and cable TV company aimed at the U.S. Hispanic and Latin American markets.
One of our regular speakers at The DailyDOOH Investor Conference, Darren Glatt, partner at Searchlight Capital, told us that “the company has no predetermined time frame for an exit and that MediaMath was attractive because scaled DSPs with strong DMPs are the true winners [in the ad-tech] ecosystem”.
Categories: DailyDOOH Update
