MediaMath said Tuesday that it has closed $73.5 million in Series C funding. Spring Lake Equity Partners led the round with participation from Akamai Technologies, Safeguard Scientifics, Catalyst Investors and Observatory Capital. Also, the firm received a $105 million debt facility from Silicon Valley Bank. GCA Savvian provided financial advice in connection with the equity portion of the transaction. MediaMath is a provider of digital marketing solutions.
MediaMath, the creator of the TerminalOne Marketing Operating System™ for digital marketers, today announced a $73.5 million Series C financing round, led by Boston-based growth equity firm Spring Lake Equity Partners, formerly the private equity arm of Tudor Investment Corporation. In addition to the Series C financing, MediaMath increased its debt facility to $105 million, for a total funding of more than $175 million.
The Series C financing also included participation from new investor, Akamai Technologies, Inc. (NASDAQ: AKAM), and existing investors Safeguard Scientifics (NYSE: SFE), Catalyst Investors, and Observatory Capital. The company debt facility was led and syndicated through Silicon Valley Bank.
“We are very pleased to have Spring Lake Equity Partners join the MediaMath family,” commented Joe Zawadzki, CEO of MediaMath. “Not only does their investment in the company represent a tremendous validation of our leadership position in the industry, but their strategic insights, deep relationships, and significant resources will play an important role in this next phase of the company’s, and the industry’s, evolution, helping us continue our global expansion and technological innovation.”
The funding will be used to continue MediaMath’s rapid global growth and support its new international offices in the EMEA, APAC, and Latin American markets. Furthermore, the proceeds will help develop and accelerate the introduction of new products and features of its flagship technology, the TerminalOne Marketing Operating System™, which enables modern marketers to reengineer their marketing for transformative results.
“We have been looking to back a leader in the digital marketing space for quite some time,” said Dan MacKeigan, partner at Spring Lake Equity Partners. “MediaMath’s leading industry position, buoyed by their remarkable triple-digit year-over-year growth and best-in-class marketing platform, presented us with an opportunity that we could not pass up. They clearly have a keen understanding of a marketer’s needs and a compelling long-term strategic vision. We are excited to support the company through this next phase of growth.”
By combining optimization & decisioning, data management, and cross-channel media execution with creative management and analytics into a single, streamlined workflow, MediaMath brings an unmatched level of efficiency and simplicity to digital marketing. MediaMath’s technology delivers superior performance, transparency, and control to all marketers; and better, more individualized experiences for consumers.
GCA Savvian acted as exclusive financial advisor in connection with the equity portion of this transaction.