SANTA MONICA, Calif., March 3, 2016 /PRNewswire/ -- Pathmatics, a leading intelligence platform to the online advertising industry, announced today a Series A investment of $3 million led by digital media technology investor Bertelsmann Digital Media Investments (BDMI). Additional funding came from existing investors Upfront Ventures, Karlin Ventures, Baroda Ventures, Double M Partners, Daher Capital, and two new investors, Wavemaker Partners and Manatt Venture Fund. The financing will be used to fund Pathmatics' continued global expansion and for further investment in its proprietary PathSource™ technology. Sim Blaustein, Partner at BDMI, has joined Pathmatics' board of directors.
"As part of a global media company, we see first-hand that the digital advertising ecosystem is growing more complex and opaque," said Sim Blaustein. "Pathmatics provides transparency as well as the industry's best intelligence on where, when, how, and for how much every ad gets placed. Pathmatics has rapidly developed a unique position in the fast-growing market for programmatic ad intelligence and is a great example of the innovative companies in the digital media landscape that we seek to invest in."
"We see growing demand from agencies, advertisers, publishers and ad tech companies for the unique transparency Pathmatics delivers," said Gabe Gottlieb, Co-founder and CEO of Pathmatics. "This investment allows us to accelerate our technology innovation and expand our footprint globally."
Founded in 2010 with headquarters in Santa Monica, CA and offices in New York, Pathmatics is used by agencies, publishers, advertisers and ad tech companies globally to analyze and optimize their digital advertising strategies and operations.
Since its first paying customer in 2011, Pathmatics has experienced triple-digit yearly recurring revenue growth with customers representing hundreds of major brands, publications, and ad tech platforms. With its patent pending PathSource technology, the company is uniquely positioned for growth among analytics and intelligence platforms.
Pathmatics provides breakthrough transparency in digital advertising. The company's patent-pending technology analyzes digital advertising activity and delivers real-time, actionable intelligence to many of the world's largest advertisers, agencies, publishers and ad tech providers. Pathmatics is headquartered in Santa Monica, CA and is backed by BDMI, Upfront Ventures, and other leading venture funds. For more information, visit www.pathmatics.com.
BDMI is a venture capital firm headquartered in New York focused on innovative digital media technologies, products, and distribution channels in North America, Europe and Israel.
BDMI concentrates on early stage investments in the digital media landscape. The company focuses predominantly on Series A and B investments, but also has a seed fund that includes about 20 companies.
ABOUT UPFRONT VENTURES
Upfront Ventures is a Los Angeles-based venture capital firm focused on investments in early stage technology companies. The firm has been making investments in tech companies like Maker Studios, TrueCar, Overture, CitySearch, BillMeLater, Envestnet, DealerTrack, CyberSource, Qualys, and HDI since 1996.
SOURCE Pathmatics, Inc.