2013-07-24 08:22 PM
BOSTON--(BUSINESS WIRE)--Jul 24, 2013--Mediaspectrum, Inc.R, a global provider of SaaS technology for advertising, content management and publishing across multiple channels, today announced the closing of a $35.8 million minority equity investment from Insight Venture Partners.
Mediaspectrum will use the proceeds to support its continued rapid growth, which is being driven by strong global demand for its solutions from some of the world's leading media companies. As part of the transaction, Peter Sobiloff, Managing Director and Cian Cotter, Principal at Insight Venture Partners, will join Mediaspectrum's Board of Directors.
"We are riding a wave of tremendous success, empowering an impressive and growing clientele to reinvent their media publishing businesses on our platform," said Scott Killoh, CEO at Mediaspectrum. "The capital infusion from Insight Venture Partners comes at an optimum time to help support rising market demand for our solution that enables clients to simplify the complexity of managing content and advertising to multiple channels including tablets, smartphones, Web, print, broadcast and more. We are thrilled about the investment and Insight's confidence in our continued advancement."
The rapid adoption of multi-media information consumption has resulted in enterprises using multiple systems to manage their advertising, content and publishing needs. Mediaspectrum's SaaS platform enables the integrated processing of advertising orders and campaigns, ad content flows, event processing, payment and information flows and analysis against a backdrop of evolving media channels and ad types. Enterprises can manage the entire life cycle within a single Mediaspectrum solution. The company's Cloud-based platform removes complexity through automation, thereby positioning clients to actively take advantage of new opportunities in digital and mobile communication.
"The need to reach customers and business partners with the right message via the right medium is critical to all businesses globally and represents a huge opportunity for Mediaspectrum", said Peter Sobiloff, Managing Director at Insight Venture Partners. "With Mediaspectrum's expertise, momentum and rapid growth, we are excited to support management in growing the company's market leadership."
A large and growing number of companies around the world have embraced the power of Mediaspectrum's solutions to seize new delivery channels and growth opportunities. As a result of a recent agreement by SAP, Mediaspectrum has seen rapid adoption by SAP's primary integrators and many of its clients. Proceeds from the financing will be used to continue the development of new distribution channels and to accelerate the focus on sales, market awareness and platform development.
Atlas Technology Group and Seyfarth Shaw LLP advised Mediaspectrum on this transaction. Insight Venture Partners was advised by Willkie Farr & Gallagher LLP.
About Insight Venture Partners
Insight Venture Partners is a leading global private equity and venture capital firm investing in software, eCommerce, Internet, and data-services companies. Founded in 1995, Insight has raised more than $7.6 billion and made more than 190 investments worldwide. Insight's mission is to find, fund, and work successfully with visionary executives who are driving change in their industries. Insight provides them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit www.insightpartners.com.
Mediaspectrum is the world's premier technology for addressing all aspects of multi-channel advertising and content management. We provide a unique environment that allows media companies to consolidate solutions into a single platform in the cloud. Mediaspectrum currently helps some of the world's leading media companies to increase ad revenues, manage content, streamline processes, and improve customer experience. Mediaspectrum is a Boston-based company with approximately 100 employees worldwide, including offices in Boston, London, Moscow and Sydney. We are found on the Web at www.mediaspectrum.net.
Jay Cody, 781-685-4648
Vice President of Marketing
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE MOBILE/WIRELESS COMMUNICATIONS ADVERTISING PUBLISHING
SOURCE: Mediaspectrum, Inc.
Copyright Business Wire 2013
PUB: 07/24/2013 08:00 AM/DISC: 07/24/2013 08:00 AM