Programmatic company MediaMath has secured a $175 million credit facility led by Goldman Sachs in partnership with Santander Bank.
The funds will be used to drive its ongoing growth goals and refinance the firm’s existing debt.
MediaMath chairman and CEO, Joe Zawadzki, believes this is a positive development to help the company grow in the right direction.
“We’re thrilled to work with Goldman Sachs and Santander, who are equally ambitious to support the growing scale of our business today, and motivated to support the needs of a reimagined and increasingly sophisticated supply chain in the future,” he commented.
As reported by TechCrunch, the firm’s CFO Stacey Bain highlighted the new line of credit doesn’t mean MediaMath has chosen more debt over raising equity funding round, but the move will allow MediaMath to be more flexible next time it seeks investment.
The announcement comes hot on the heels of the company’s opening of a new office in South Korea and signing a deal with local reseller Wishmedia in a bid to harness the growing adoption of programmatic in the region.Wishmedia in a bid to harness the growing adoption of programmatic in the region.
The launch brings the total number of countries the company operates in to 43 and follows a period of heavy expansion into APAC with new offices in Australia, Tokyo, Singapore and India.
MediaMath has also recently made the headlines by teaming up with AppNexus and LiveRamp to create a people-based consortium to improve programmatic and becoming one of Procter & Gamble's demand-side platforms.