Wellington Financial Provides $11 Million Growth Capital to Operative Media, Inc.
NEW YORK and TORONTO, March 5, 2014 /PRNewswire/ - Wellington Financial LP, a privately-held specialty finance firm, today announced a US$11 million venture debt financing for Operative Media of New York. Operative helps media companies like WSJ, The Weather Company, MSN.com, Daily Mail Group, Bauer Media and Comcast manage their digital ad business. From cloud-based software to outsourced ad operations support, Operative empowers media companies to package, sell, traffic, and collect more revenue on advertising products.
"Operative provides a market leading solution to its clients which brings together critical business processes and systems necessary to maximize advertising revenue. With US$6 billion in global ad revenue flowing through Operative's platform annually, they are a high growth company with more than 200 clients globally. We are delighted to add them to our portfolio," said Craig Netterfield, Partner of Wellington Financial.
Lorne Brown, Chief Executive Officer of Operative Media said, "We are pleased to work with Wellington Financial. This financing is a testimony to the operational expertise we've acquired over the last 14 years. We create solutions that bring people, processes and technology together to make advertising businesses leaner and more scalable for publishers. With Wellington's financial support we will continue to enhance our platform, expand global operations and develop new offerings for publishers."
Operative Media is backed by leading venture capital firm Edison Ventures, and is the sixth Edison-backed company to tap Wellington Financial for growth capital.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $600 million investment program with offices in San Francisco, Santa Monica and Toronto. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada's largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com.
Since 2001, Operative Media has been committed to driving sales and
decreasing expenses for media companies through its cloud-software
solutions and outsourced services. Operative recognizes that media
sales grow more complex each year, and companies that use Operative to
harness these challenges, generally see significant growth in revenue,
pricing and turn-around time while reducing costs, error rates and
inefficiencies. Operative's leading client base is responsible for more
than 20% of all global ad sales and includes leading media companies in
digital, television, radio and print. To see more about our leading
media solutions, please see http://www.operative.com.
SOURCE Wellington Financial LP