August 5, 2009
Based in New York, one of the leading digital media companies, MediaMath announced today that it has just secured $12.5 million in growth capital and debt relief with Safeguard Scientific, Inc. leading the round of funding by providing MediaMath with $10 million. The other $2.5 million was provided by Silicon Valley Bank. Other investors who participated in this round of funding together with Safeguard Scientific include QED, and the European Founders Fund.
MediaMath is a digital media company that has an automated buying platform which provides advertisers with tens of billions of dollars in impressions on a daily basis along with a simple workflow that allows for the management of powerful analytics and the rich data that is necessary to get the maximum use of the impressions provided by MediaMathâ€™s platform. MediaMath was founded in 2007 by veteran entrepreneurs, marketers, and technologists.
According to the vice president and managing director of the Technology Group at Safeguard Scientific, Erik Rasmussen, Safeguardâ€™s partnership with MediaMath demonstrates the core focus that Safeguard Scientific has when investing in growth stage companies in the tech industry, which have a competitive edge in their respective markets. Mr. Rasmussen further added that MediaMath is a true leader in the digital media industry and already having over tens of millions of dollars worth of advertising campaigns going through its system. Furthermore, the companyâ€™s approach is combining raw performance, research, and precise targeting — all of which are crucial for successful internet advertising.
Erik Rasmussenâ€™s main function at the Technology Group, run by Safeguard Scientific, is to work closely with companies that are partners of Safequard Scientific and provide both operational and strategic support to them. Mr. Rasmussen is experienced in all aspects of equity funding, and before joining Safeguard Scientific, he worked for WWC Capital Group, which is an investment banking and private equity firm.
In conjunction with the investment from Safeguard Scientific, Mr. Rasmussen will also joing MediaMathâ€™s board of directors.
The MediaMath advertising platform provides advertisers with both a digital interface and back office services for its clientele to easily be able to run their advertisements effectively. MediaMath has gotten some rather prominent internet advertisers to use its platform, which include RightMedia, Googleâ€™s DoubleClick Advertising Exchange, and Microsoftâ€™s AdECN.
According to the CEO of MediaMath, Joe Zawadzki, MediaMath has developed the first demand-side media trading platform that helps ad agencies deliver increased client performance and insights at much lower costs. Furthermore, Mr. Zawadzki added that over the past two years, the tech team at MediaMath has been working on developing a much more effective and sophisticated software and services offerings in the internet advertising industry.
Safeguard Scientific was founded in 1953 and its headquarters are in Wayne, Pennsylvania, and is a holding company that provides investments to cutting-edge growth stage companies in both the life sciences and tech industries. Safeguard also plays roles in buyout and acquisition financing. Some other companies that partner with Safeguard Scientific include Advantage Healthcare Solutions, Advantium, Portico Systems, Swap Tree, Garnet Bio Therapeutics, and others.
For more information about MediaMath, click here.