Goldman Sachs and Santander extend $175 million line of credit to Mediamath
MediaMath, a leading independent programmatic company for marketers, announced that it had secured a new $175 million line of credit, led by Goldman Sachs, in partnership with Santander Bank. MediaMath said that this new line of credit would be used to refinance existing debt and fund its ongoing growth objectives.
Joe Zawadzki, Chairman and CEO of MediaMath, said: “We’re thrilled to work with Goldman Sachs and Santander, who are equally ambitious to support the growing scale of our business today, and motivated to support the needs of a reimagined and increasingly sophisticated supply chain in the future.
Akin Bay Company LLC, a New York-based investment bank, acted as the sole placement agent and debt advisor to MediaMath for the financing.
MediaMath has recently expanded into South Korea, signing a deal with local reseller Wishmedia.
Tech Consortium for Privacy
They have also formed a technology consortium, with Appnexus and LiveRamp to enable privacy-first people based programmatic advertising. Consortium members will enjoy access to an identity framework built from pairing an encrypted version of an omnichannel, people-based identifier and a common, open cookie that resides on a shared, open domain. Each consortium member will adhere to a strict agreement requiring best practices with respect to privacy and security, including compliance with digital advertising industry self-regulatory code and applicable laws.
Until now, the lack of a common, omnichannel, people-based identifier has created significant challenges for marketers, including the inability to coordinate campaigns across platforms, a lack of interoperability with the mobile web, and siloing across channels.
“Our clients are excited by the prospect of improved reach and precision in their marketing campaigns,” said Michael Lamb, President of MediaMath. “And we are thrilled by the opportunity to establish the strong and consistent data protection policies that consumers deserve. Upgrading this foundational piece of the infrastructure puts us on solid footing, as programmatic grows to encompass all of digital.”