Collective Gets US $50 Million Series C Financing Round
Some analysts think the Ad-Tech (Advertising Technologies) sector is facing a shakeout. Roughly defined the Ad-Tech sector is the whole ecosystem that enables and caters to the digital media and advertising markets. Some observers think that there are basically too many players. Many of these companies have been funded by venture capital funds. Yet, transactions like the US $50 million funding of Collective show that financial investors are still willing to make substantial investments in Ad-Tech firms. Interestingly, the Collective transaction is not only backed by financial institutions and venture capital funds, but by Cox Media Group, a subsidiary of Atlanta-based Cox Enterprises, that is also an investor in content marketing company Skyword.
Ad network Collective, formerly called Collective Media, just got a new round of financing totaling US $50 million, Venturebeat reports. The Series C round includes US$ 20 million in new equity funding and US$ 30 million in debt financing. Collective is present in the U.S.., including the U.S. Hispanic market, Europe (London) and India. The new funding was led by Cox Media Group, with participation by Samsung Ventures and Accel Partners. Comerica Bank provided the $30 million line of credit.
“Collective’s business strategy is to help brand-conscious advertisers use data instead of content to reach and engage their target audiences in today’s highly fragmented media environment,” Collective CEO Joe Apprendi said in a statement. “Our leadership in big data science gives advertisers a unified, actionable view of their consumer across screens, eliminating advertising waste, improving coordination, and driving greater ROI.”