RadiumOne has closed on a $US54 million ($A70.15 million) funding round, with the cash to go towards further investments in Activate, its self-service programmatic trading platform.
The martech company raised the cash from a mixture of debt and equity, with Harmony Partners and Industry Ventures joining existing investors in the opportunity.
Its global CEO Bill Lonergan said investor appetite for the offering was a sign that programmatic platforms are starting to gain more traction on Wall Street, and not just Madison Avenue.
“There is a rush of digital advertising spending coming into the marketplace” Lonergan said.
“This added capital allows us the further invest in innovative technology, prepare for future advertising opportunities, and serve growing ad markets around the world.”
He pointed to eMarketer stats which indicate spending on programmatic digital advertising, including both display and video, is set to reach $24 billion in the US by next year.
“Marketers are continuing their march towards programmatic – not just with online, video and mobile display ads but with rich media formats as well,” Lonergan said.
Local managing director Kerry McCabe said the funding would go a long way in cementing its position in the martech space.
“To continue delivering on our promise of 'unlocking the value of sharing' for brands and publishers requires constant investment in standout product and great people,” McCabe said.
“We have ambitious plans for the Asia Pacific markets and this injection of funds will further support us in establishing a strong presence across the region through the second half of 2015.”
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