MediaMath secures $225m in funding from Searchlight Capital Partners
Adtech outfit MediaMath has secured $225m in private equity from investment firm SearchLight partners.
SearchLight's cash injection brings the total amount raised by the company to $500m / MediaMath
The funding will be used to accelerate MediaMath's demand-side platform (DSP) and data management platform via "organic and inorganic" growth initiatives according to a statement from the company.
SearchLight's cash injection brings the total amount raised by the company to $500m, with chief executive Joe Zawadzki telling the Wall Street Journal that the business would also use the funding on acquisitions and to double down on tech like connected TV and AI.
MathCaptial, the group's seed venture fund, is understood to be planning more than 10 investments this year, following on from a recent investment in blockchain business Underscore CLT.
“MediaMath is executing on a successful and accelerated growth plan that has been facilitated by both organic investment and M&A,” said Franklin Rios, global head of corporate development at MediaMath.
“Searchlight’s investment will ensure that we continue on our path of consistent and profitable growth, with the support of a long-term, strategically oriented partner.”
The investment comes amid a period of consolidation in the ad tech space, with duopoly challenger AppNexus only last month having been snapped up by telecom giant AT&T.