North Atlantic Capital led a $14 million Series C funding round in ChoiceStream, which provides advertising for brands and agencies. Previous investors also participated in the funding.
ChoiceStream, a provider of programmatic advertising for brands and agencies, today finalized a $14 million Series C funding round. This round is led by a new investor, North Atlantic Capital, and includes follow on investments from previous investors. ChoiceStream will use the investment to further develop its successful managed services offering, launch an expanded self-service product to bring the power of programmatic into the hands of brands and agencies and boost the Company’s international expansion efforts.
“Over the last year we have taken a number of bold steps to establish ChoiceStream as a genuine technology leader in the hypercompetitive programmatic advertising industry,” said Eric Bosco, CEO, ChoiceStream. “As a company we have developed much of our foundational technology in house, which has been a significant advantage for our clients as well as the company. Our tremendous success that we’ve had with our clients, thanks to the effectiveness of our proprietary technology, has compelled our investment partners both new and old to double down on their investment in the company. We are excited to continue to execute on the plan that we started in 2011.”
The Series C investment marks ChoiceStream’s third financing round since the company’s 2011 transformation into a pure-play advertising technology company. ChoiceStream runs programmatic advertising campaigns for brand and agency clients, managing each phase of a campaign, from pre-launch planning to completion. Through the collection of poll-based, proprietary data specific to each client’s campaign, via Pollshare, ChoiceStream creates custom, targetable audiences, optimizes results in real-time and provides unique audience insight throughout each engagement. Leveraging world-class machine-learning algorithms, via the company’s Thunderdome programmatic optimization platform, in combination with a team of in-house industry experts, ChoiceStream boasts a client retention rate – well above the industry average.
“ChoiceStream’s singular approach to creating targeted branding and performance campaigns that both reach and move consumers makes them a disruptive force in the competitive advertising technology industry,” said David Coit, managing director, North Atlantic Capital. “We are strong believers in the leadership of ChoiceStream’s executive team, and combined with their impressive Pollshare and Thunderdome platforms, we fully believe that our partnership will be a successful one.”
ChoiceStream is a digital advertising partner that manages and optimizes targeted branding and performance campaigns to reach and move audiences that are easy to describe but hard to find. By qualifying audiences before a campaign begins and continuously refining targeting in real-time, this partner exceeds metrics and drives brand awareness. ChoiceStream streamlines complicated programmatic campaigns with a combination of its proprietary polling platform, optimization technology, dynamic creative, and dedicated team of industry experts. For more information, visit www.choicestream.com.
About North Atlantic Capital
North Atlantic Capital is a later stage venture capital firm based in Portland, Maine, investing in enterprise technology companies. North Atlantic provides creative financing structures to high growth companies with differentiated technologies that address large market opportunities. Established in 1986, North Atlantic is currently investing its fifth fund, raised in 2014. Past and current investments include iContact, IDEXX Laboratories, Tangoe, VideoBlocks, Vivisimo, Voxeo, and WEX. For more information on North Atlantic Capital and their current investment activities, visit www.northatlanticcapital.com.