MediaMath announced $225 million in new financing, led by Searchlight Capital Partners. According to MediaMath, the new funding will serve to accelerate its mission to connect marketers with consumers in a manner that is more effective, efficient and trusted.
The funding will be delivered in two tranches to pursue both organic and inorganic growth initiatives. This financing brings MediaMath’s total capital invested to over $500 million and provides the necessary resources to help drive this next phase of growth.
“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,” said MediaMath’s CEO Joe Zawadzki. “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.”
MediaMath says will expand its open identity stack, re-engineering the infrastructure that connects consumer touchpoints (including scaling activity in high growth channels such as connected television and digital out-of-home), and accelerating the broad adoption of artificial intelligence, which is a prerequisite to driving real business outcomes with consumer respect at scale.
“Together, MediaMath and IBM are infusing AI into real-time marketing decisions, arming marketers with the insights needed to more effectively delight their customers,” says Inhi Cho Suh, General Manager, Watson Customer Engagement. “MediaMath’s focus on machine learning in the paid digital advertising sphere complements IBM’s leading-edge AI and cloud technology to enable brands to make the connection with consumers personal and meaningful.”
MediaMath was also recently selected by Dentsu Aegis Network to power its digital and programmatic business under Amnet’s Amnet Audience Center (“AAC”). Following a year-long deployment, a still-growing advertiser base of more than 600 advertisers in 30 global markets utilizes AAC’s audience segmentation, analytics, and insights to deliver better business outcomes for its advertisers and partners.
“The industry has evolved together, with a class of consistent change-agents-for-the-better constantly redefining the status quo in pursuit of an idealized state of ‘better’ for people, for brands, for the ecosystem that connects them,” said Amnet’s Global President, Ashwini Karandikar. “We see ourselves as that, and we see great partners in the team at MediaMath.”