The worldwide supplier of SaaS technology, Mediaspectrum, has announced on Wednesday, July 24th that it has raised $35.8 million in a funding round that was guided by Insight Venture Partners. With these funds, Mediaspectrum is now looking to further boost its rapid growth, which is already driven by a very strong demand for the solutions the company is providing throughout the world. The success of Mediaspectrum can be judged from the fact that big media publishers such as The Wall Street Journal, The New York Post, Gannett, The Washington Post and others are its clients.
On this occasion, the CEO of Mediaspectrum, Scott Killoh said that, “We are riding a wave of tremendous success, empowering an impressive and growing clientele to reinvent their media publishing businesses on our platform. 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 Managing Director of Insight Venture Partners, Peter Sobiloff said that, “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. With Mediaspectrum’s expertise, momentum and rapid growth, we are excited to support management in growing the company’s market leadership.”
Mediaspectrum also released other details regarding the recent fund raising in the press release. Below are few excerpts from the official release:
“As part of the transaction, Peter Sobiloff, Managing Director and Cian Cotter, Principal at Insight Venture Partners, will join Mediaspectrum’s Board of Directors.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.
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.”
Source: Techcrunch, Mediaspectrum
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