Partnership to Accelerate Global Product Expansion and Innovation in CTV
NEW YORK, March 29, 2021 /PRNewswire/ -- TripleLift, one of the largest advertising technology platforms in the world, announced today it has signed a definitive agreement to receive a majority investment from Vista Equity Partners. Vista, a leading global investment firm focused on enterprise software, data and technology-enabled businesses, will help drive further innovation across TripleLift and accelerate global growth.
"We have developed into a leader in the advertising technology space and are excited about our next chapter," said Eric Berry, Co-Founder and CEO of TripleLift. "When looking for an investment partner, we placed a premium on a deep understanding of ad tech and a willingness to lean into developing our portfolio of innovative, high-growth products. Vista is that partner."
Founded in 2012, TripleLift is driving the next generation of programmatic advertising by inventing new ad formats and building two-sided marketplaces that deliver monetization to publishers around the world. The company rose to prominence as the leader in Native programmatic advertising, expanded its offerings to display and video, and is now commercializing breakthrough products in Connected TV. TripleLift works with over 80% of the comScore 100 publishers, 100% of the Top 20 Demand Side Platforms (DSPs) and 100% of the AdAge Top 100 advertisers. Last year, TripleLift handled over 40 trillion ad transactions across desktop, mobile and connected television.
"TripleLift is a next generation ad tech company that has successfully identified and developed multiple new markets since its inception," said Michael Fosnaugh, Co-Head of the Vista Flagship Fund and Senior Managing Director. "In each case, they have created unique value to an entire ecosystem of companies, including brands, publishers, and partners, and we are thrilled to be working with Eric and the team to further scale their business."
"Vista is pleased to partner with TripleLift and we have a tremendous runway for growth," said Rod Aliabadi, Managing Director at Vista Equity Partners. "We look forward to continued market leadership in programmatic, further catalyzing our opportunity in CTV and building upon our expansion into priority international markets across Europe and Asia."
The transaction is expected to close in the second quarter of 2021. Eric Berry will remain as CEO and will continue serving on the Board of Directors. True Ventures and Edison Partners, two early investors in TripleLift, will remain invested in the company.
Centerview Partners LLC is serving as exclusive financial advisor to TripleLift, and Goodwin Procter LLP and Reitler Kailas and Rosenblatt LLC are serving as legal counsel. JP Morgan is serving as financial advisor to Vista, and Kirkland & Ellis LLP is serving as legal counsel.
TripleLift, one of the fastest-growing ad tech companies in the world, is a technology company rooted at the intersection of creative and media. Its mission is to make advertising better for everyone— content owners, advertisers and consumers—by reinventing ad placement one medium at a time. With direct inventory sources, diverse product lines, and creative designed for scale using Computer Vision technology, TripleLift is driving the next generation of programmatic advertising from desktop to television. As of January 2021, TripleLift has recorded five years of consecutive growth of greater than 70 percent. TripleLift is a Business Insider Hottest AdTech Company, Inc. Magazine 5000, Crain's New York Fast 50, and Deloitte Technology Fast 500. Find more information about how TripleLift is shaping the future of advertising at triplelift.com.
About Vista Equity Partners
Vista is a leading global investment firm with more than $73 billion in assets under management as of September 30, 2020. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, credit, public equity and permanent capital strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista's investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn @Vista Equity Partners, and on Twitter @Vista_Equity.