Altitude Digital said April 11 it raised an additional $17.5 million of new financing from Multiplier Capital and Bridge Bank, a division of Western Alliance Bank. Denver-based Altitude Digital provides a Programmatic Video Platform.
DENVER, CO–(Marketwired – Apr 11, 2016) – As premium publishers demand more control over their programmatic offerings, Altitude Digital has announced the launch of the world’s first fully white-labeled, self-service Programmatic Video Platform. Publishers can now independently manage their mobile and desktop video advertising. This evolution redefines the capabilities of traditional supply-side platforms (SSPs).
The new ARENA® Programmatic Video Platform empowers publishers to:
- Take complete control of their own real-time bidding exchange to work directly with DSP partners, in turn eliminating intermediate platforms and increasing margin.
- Package and sell both mobile and desktop video inventory through programmatic direct deals, private marketplaces and open exchanges in a unified auction.
- Protect revenue through natively integrated third party verification vendors and pre-filtering tools.
- Expand video inventory through a flexible outstream player.
- Optimize inventory through completely transparent real-time analytics.
“This monumental platform release will enable publishers to take back control of their business and achieve true independence,” said Manny Puentes, CTO of Altitude Digital. “No more black boxes, hidden fees and unnecessary middlemen.”
The launch comes as Altitude has also announced an additional $17.5 million of new financing from Multiplier Capital and Bridge Bank, a division of Western Alliance Bank, to fund the further expansion of the platform and increase publisher adoption of the technology.
“Investment in the advertiser side of the business has significantly outpaced investment on the publisher side. Altitude Digital is finally giving publishers the tools to be independent and less reliant on margin takers and intermediaries,” said Jeremy Ostermiller, CEO of Altitude Digital. “Our partnerships with Multiplier Capital and Bridge Bank come at the perfect time as we begin delivering this innovation to the publishing community.”
Since the company’s last financing, Altitude has become the largest independent Programmatic Video Platform for publishers, and is currently ranked as the fourth largest U.S. online video ad property according to comScore and the third largest according to Quantcast. The company has also made significant investments in delivering data and tools to publishers to fight fraud and improve viewability and now ranks in the Top 20 on Pixalate’s Global Seller Trust Index.
“Altitude Digital has differentiated itself by putting the publisher first, and we are thrilled to partner with them in this mission to fully capture the benefits of programmatic selling as never before,” said Ray Boone, a general partner of Multiplier Capital. “Value is created when disruptive technology is delivered to an underserved market and that’s exactly what Altitude has done. Our investment reflects our confidence in the shift towards programmatic video and the vision of the Altitude Digital team.”
About Altitude Digital
Altitude Digital is the largest publisher-first, programmatic video technology company in the world. The Altitude ARENA® white-label, self-service Programmatic Video Platform gives publishers complete independence and direct control of their mobile and desktop video business so they can optimize their inventory and increase margins. The company is one of the 10 largest video advertising providers ranked by both comScore and Quantcast. Altitude Digital is headquartered in Denver, Colorado with offices in New York and San Francisco.
About Multiplier Capital
Altitude Digital was funded out of Multiplier Capital, LP, a privately-owned debt fund, which makes structured and secured venture debt investments ranging from $3 million to $15 million to rapidly growing, later stage professionally backed companies. Multiplier Capital invests across various growth industries, including enterprise software, digital media, cybersecurity, healthcare technology and services and technology enabled services. Its differentiators include speed and reliability, flexibility, and patience. Multiplier Capital has offices in Los Angeles, New York, and Washington, DC. www.multipliercapital.com.
About Bridge Bank
Bridge Bank is a division of Western Alliance Bank, the go-to-bank for business in its growing markets. Bridge Bank was founded in 2001 in Silicon Valley to offer a better way to bank for small-market and middle-market businesses from across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture backed and non-venture-backed companies, Bridge Bank offers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, sustainable energy project finance, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has eight offices in major markets across the country along with Western Alliance Bank’s robust national platform of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. With $14 billion in assets, Western Alliance Bancorporation (NYSE: WAL) is one of the fastest-growing bank holding companies in the U.S. and recognized as #10 on the Forbes 2016 “Best Banks in America” list. For more information, visitwww.bridgebank.com or follow us on Twitter @Bridgebank.