ChoiceStream said Monday that it has closed $7.5 million in Series B funding. Fred Alger Management led the round. In addition to the funding, Daniel Chung, CEO and chief investment officer of Fred Alger Management, has been named to ChoiceStream’s board of directors. Headquartered in Boston, ChoiceStream is a programmatic media buying firm.
BOSTON – July 28, 2014 – ChoiceStream, a full-service programmatic media-buying company today announced that it has raised $7.5 million in Series B funding, led by New York-based Fred Alger Management. This round marks ChoiceStream’s first new-investor-led financing since the company’s 2011 transformation into a pure-play demand-side advertising platform.
“This funding will be used to expand ChoiceStream’s programmatic platform by further investing in our survey-based targeting, dynamic creative, and audience insights capabilities,” says Eric Bosco, CEO of ChoiceStream.
According to Bosco, ChoiceStream is positioned to take advantage of the market opportunities presented by the rapid expansion of programmatic ad buying, as real-time bidding becomes an essential element in Web and mobile advertising. The programmatic market is projected to exceed $18.2 billion in U.S. revenue by 2018, according to a report by Business Insider Intelligence. ChoiceStream now serves more than 150 brands and agencies.
Daniel Chung, CEO and Chief Investment Officer of Fred Alger Management, which led the Series B funding, said: “At Fred Alger Management our mission is to invest only in growing companies that have the management and business models necessary for longstanding success, and we think ChoiceStream is a leading example.” Mr. Chung will join ChoiceStream’s board of directors.
ChoiceStream delivers top-of-plan results for online, video, and mobile advertisers. Unique real-time polling finds the ideal audience. Real-time bidding and machine learning optimize the buy, and dynamic creative engages the audience with dynamic and relevant ads. ChoiceStream’s concierge level services include creative development, campaign management, complete transparency, and custom insights.
Companies like Zappos, Dunkin’ Donuts, and AAA use ChoiceStream to drive results. For more information on ChoiceStream, please visit www.ChoiceStream.com.