PubMatic, the digital media platform for publishers, raised $45 million in mezzanine financing. New investor, August Capital, is leading the financing with participation from all existing investors including Draper Fisher Jurvetson, Nexus Venture Partners, Helion Ventures and Silicon Valley Bank. The funds will be used to continue PubMatic’s targeted acquisition strategy and strengthen the company’s balance sheet.
“The marketing automation landscape is overly fragmented with too many point solutions,” said Rajeev Goel, Co-founder and CEO of PubMatic. “Over the past 18 months, PubMatic has solidified its position as the leading independent publisher platform via organic development, partnerships, and acquisitions. The additional funding will further our mission of making it easier for buyers and sellers of advertising to work together.”
With this round of funding, Eric Carlborg, a partner at August Capital, joins the PubMatic Board of Directors. Carlborg is a valuable addition to the board and brings a breadth of public company operating expertise from his role as former CFO of Provide Commerce (PRVD), with experience on the Boards of Blue Nile, Inc. August Capital manages $1.3 billion in capital and has invested in leading technology companies including Atheros, Postini, Splunk, and Seagate as well as digital media companies such as Adchemy, SAY Media and Adara Media.
“We’re thrilled to partner with PubMatic increase their investment in superior technology and top executive talent to more effectively serve premium publishers,” said Eric Carlborg. “The advertising automation space is vibrant with huge growth potential and PubMatic, with its six-year history of innovation, client base of comScore top 100 publishers and superior strategic selling platform will continue to lead the industry.”
This mezzanine financing caps a period of growth for the company which includes year over-year revenue growth in excess of 150 percent. In addition, PubMatic has recently introduced new products such as PubDirect, which offers premium publishers the ability to optimize sales across multiple selling channels, PubLink which enables publishers to access multiple partner tools and services in real-time via a single point of integration, as well as new solutions for mobile monetization, measurement and continuous margin improvement.
More about Pubmatic here