RadiumOne secures US$54m for programmatic ad tech

Ad tech vendor says it will use the funding to extend its programmatic advertising platform offering as well as expand in Asia-Pacific

In a sign of just how much investment is being injected into programmatic ad tech, RadiumOne has secured US$54 million in a new capital raising round to bolster its technology platform and growth ambitions.

The vendor, which launched its programmatic advertising platform in Australia last year, secured the $54m in equity and debt financing in an investment round led by Harmony Partners which included Industry Ventures as well as existing investors, Adams Street Partners, Crosslink Capital, Trinity Ventures and DFJ Esprit.

In a statement, RadiumOne said the funding will be used to increase investment in its self-service programmatic advertising platform, Activate, as well as to further developed its patented big data and software analytics capabilities around social sharing behaviours.

It will also look to further expand its global reach in Asia-Pacific and Europe. To date, the company has raised more than $87 million in debt and equity.

“There is a rush of digital advertising spending coming into the marketplace,” RadiumOne CEO, Bill Lonergan, said. “This added capital allows us to further invest in innovative technology, prepare for future advertising opportunities, and serve growing ad markets around the world.”

Kerry McCabe, RadiumOne’s Asia-Pacific managing director, added the group has ambitious plans for the Asia-Pacific markets and flagged a stronger presence now being established in the second half of this year.

According to a company statement, RadiumOne claims it is already profitable and achieved its strongest financial performance in the second half of 2014. It also claims to be on track to exceed 2015 goals. It now has more than 1000 customers in 12 countries, representing sectors such as financial services, travel, retail, telecom and entertainment.

“Marketers are continuing their march towards programmatic – not just with online, video and mobile display ads, but with rich media formats as well,” Lonergan commented.

He pointed to eMarketer estimates, which put US programmatic digital ad spend across display and video at $24 billion by 2016.

Harmony Partners managing partner and co-founder, Mark Lotke, said RadiumOne was at a pivotal time in its company trajectory.

“The company’s leadership has generated impressive business gains and returns, with each successive quarter outperforming the previous one,” he said. “As more media channels are being bought and sold programmatically, RadiumOne’s incredible momentum is a sign of the bright future for digital advertising.”

Last month, Foxtel’s Multi Channel Network and AOL Platforms announced they had joined forces to launch programmatic TV inventory buying in Australia through their own private trading exchange.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Why are we dubious about deep learning?

The prospect of deep learning gives those of us in the industry something to get really excited about, and something to be nervous about, at the same time.

Katja Forbes

Founder and chief, sfyte

Why you can’t afford to fail at CX in 2019

In 1976 Apple launched. The business would go on to change the game, setting the bar for customer experience (CX). Seamless customer experience and intuitive designs gave customers exactly what they wanted, making other service experiences pale in comparison.

Damian Kernahan

Founder and CEO, Proto Partners

Natural born leaders

Many business and marketing managers progressing to leadership positions face evolving their focus from operational matters to strategic decision making and planning.

Jean-Luc Ambrosi

Author, marketer

Do you need a loan to pay off your credit or debit? Do you need financial help to set up your own business? Do you need a loan to carry o...

NORA

Facebook: Friction is costing Australian businesses $29 billion a year

Read more

Thanks for writing about chatbots. Definitely bots have the exciting future when it comes to customer engagement, transactional and conve...

Sanket Nair

7 businesses successfully implementing chatbots

Read more

Interesting article but what about the employees? There needs to be access to quick cash for everyone involved lest we have yet another '...

Joel Pencer

Suncorp outlines customer investments, digitisation as key to business improvement

Read more

Just printed out this Brad Howarth screed to read tomorrow. I need a good laugh once in a while. Or maybe shed some manly-man tears at th...

Larry A Singleton

What a diversity agenda has done for Kellogg's staff and innovation engagement

Read more

Morons. PC Nazis infiltrating and subverting every level in our lives.These scum have destroyed our education system.Read FrontPage Magaz...

Larry A Singleton

What a diversity agenda has done for Kellogg's staff and innovation engagement

Read more

Latest Podcast

More podcasts

Sign in