Matchbin announced today that it has closed its first institutional equity financing led by New York-based growth equity investor Level Equity. Greycroft Partners and vSpring Capital are co-investors in the $10 million round.
Simultaneously, the business acquired NAVTEQ Media Solution’s Radio and Television Group, closing a $12 million credit facility with Silicon Valley Bank. The combined company, aptly named Radiate Media, provides critical localized content, digital content management solutions and an advertising platform to over 6,000 local and national advertisers through its growing network of over 2,000 media partners.
Chris Rothey, who founded and took Traffic.com public before being acquired by NAVTEQ in 2007, has joined Radiate Media as CEO. “Technology and evolving content distribution models continue to rapidly change the way advertisers, large and small, promote themselves in a quantifiable fashion,” said Rothey. “Our collective offering will help our media partners leverage their strong and enduring relationships with local businesses to provide both today’s and tomorrow’s performance advertising solutions.”
Matchbin announced today that it has closed its first institutional equity financing led by New York-based growth equity investor Level Equity. Greycroft Partners and vSpring Capital are co-investors in the $10 million round.
Posted on BusinessWire.com
