Mediaspectrum received an endorsement for its technology from SAP at the end of last year and today it adds a financial endorsement to the tune of US$ 38.5 million from Insight Venture Partners, which specializes in raising funds for technology companies.
Mediaspectrum says the financing will be used to continue the development of new distribution channels and to accelerate the focus on sales, market awareness and platform development (it has opened offices in the US, Europe and Australia).
In a statement about the funding, Mediaspectrum said that the company's ongoing expansion is being fed by demand for its platform currently being used by media companies all over the world. The platform enables media companies to consolidate their IT solutions into a single, Web-based environment that manages multichannel advertising, content and publishing.
However, it has also been aggressively pursuing expansion and only this month announced that it was buying a majority stake in Swiss-based business process outsourcing provider, xentive. The 51% stake here was a strategic acquisition in that the remaining 49% is in the hands of PubliGroupe, which provides marketing and media sales services to media groups all over the world;
Mediaspectrum, at the time of that deal, said the stake would provide it with xentive’s “established and profound competences in the area of BPO” and systems integration for the media industry. It also gave Mediaspectrum access to a list of global clients that includes just about anyone who is anyone in the global media industry.
A SaaS-based Advertising Platform
However, to see Mediaspectrum’s rise as the result of strategic business deals only would be to take away from the intrinsic value of the platform itself.
Its SaaS platform offers enterprise clients the ability to manage their entire advertising campaigns, from the integrated processing of advertising orders and campaigns, to ad content flows, information flows and analysis.
The growth and demand of the platform has been built on the back of an increasing use of multimedia information and sources, and the need for enterprises to manage all the information sources that are feeding into their advertising, content and publishing businesses.
The capital infusion from Insight Venture Partners comes at an optimum time to help support rising market demand for our solution that enables clients to simplify the complexity of managing content and advertising to multiple channels including tablets, smartphones, Web, print, broadcast and more…,” Scott Killoh, CEO at Mediaspectrum said.
Endorsed by SAP - A Good Thing
At the end of last year, and as an acknowledgement of how far Mediaspectrum’s technology is reaching, SAP endorsed Mediapectrum technology. This meant that as of last December Mediaspectrum applications could work with, and complement SAP software.
In practical terms, this means that users of SAP finance and analytics solutions will also have the option of adding cross-platform advertising content management to their SAP ecosystem. The result has been its rapid adoption by SAP’s primary integrators and many of its clients.