NEW YORK, June 11, 2015 /PRNewswire/ -- TripleLift, the programmatic native technology company, announced today that it has closed $10.5 million in Series B funding led by Edison Partners. The new capital will fuel expansion of TripleLift's industry-first native ad exchange, and grow the company from 50 to more than 100 employees. Edison Partners joins existing investors True Ventures, iNovia Capital, Laconia Capital, and NextView Ventures.
TripleLift's technology enables publishers to automate the rendering and delivery of in-feed native ads. Since its founding in 2012, the company has grown 533 percent year over year through partnerships with more than 1,500 premium publishers, including Conde Nast, The Atlantic, and Hearst Newspapers.
"Our vision at TripleLift is to transform advertising and build a scalable platform that respects the user, the publisher, and the advertiser. This is a paradigm shift away from flashing and blinking ads that undermine the user experience," said Eric Berry, CEO and Co-Founder of TripleLift. "We are seeing brands and agencies shift budget from banner ads into higher performing native ads - and in-feed native ads transacted programmatically is emerging as the first step in a meaningful evolution of the display advertising market."
"TripleLift is uniquely positioned to deliver content at scale on the publisher's terms and without diluting the brand's mission," said Ryan Ziegler, General Partner at Edison Partners. "We're excited to be partnering with a team who has created the next-generation ad infrastructure for more engaging digital advertising experiences that make transacting frictionless between advertisers and publishers."
According to a recent study by Business Insider Intelligence, the Native-Style Display ad market in the United States is expected to grow from $1.9B to $2.7B in 2015. Marketers are increasing their native advertising budgets because consumers prefer native ads over other formats, such as video ads and banner ads, according to a study by the IAB.
"TripleLift allows Bon Appetit, Epicurious and our Shoppers' Network to create beautiful ad experiences that tell brand's stories in a way that captures consumers attention yet doesn't detract from the user experience," said Craig Kostelic, Head of Digital at Conde Nast's Food Innovation Group.
TripleLift is the programmatic native advertising platform. The company's technology allows brands to amplify their content through in-feed native ads that match the unique look and feel of thousands of publishers. Publishers leverage TripleLift's technology to create a new revenue stream through monetizing their in-feed inventory. For more information about TripleLift, please visit triplelift.com.