New York-based advertising technology company Collective has raised US$34 million in follow-on funding. The round was led by Columbia Partners and was joined by Accel Partners, Greycroft and Canadian venture capital firm iNovia Capital. Founded in 2005, Collective offers enterprises data-driven and programmatic solutions to unify digital advertising across platforms, screens and formats. Joe Apprendi, the company’s founder and CEO, said the latest investment will allow Collective to accelerate the roll-out of new product features and functionality later this year and in 2017.
Collective Secures $34 Million in Additional Growth Capital to Fuel Its Enterprise Advertising Hub, Visto™ | by Collective New Capital Follows Formal Split of Its Media and Technology Divisions
NEW YORK, NY–(Marketwired – Jun 16, 2016) – Collective, the ad tech leader and programmatic pioneer, today announced that it has raised $34 million in additional investment led by Columbia Partners with Accel Partners, Greycroft and iNovia participating to fund the further development and expansion of Collective’s enterprise advertising hub, Visto™.
“As investors, Columbia Partners is constantly on the lookout for companies we feel offer unique, scalable, products and services in growing industries,” said Jason Crist, Managing Partner of Private Capital. “In Collective, we found a combination of leadership, strategic vision as well as innovative product and services with their recently launched Visto Hub that we believe offer a huge investment opportunity for long term, scalable growth.”
The increased capital support reflects a commitment to Collective’s vision to bring to market the only truly platform agnostic enterprise advertising hub. The groundbreaking technology, Visto™ | by Collective, is completely interoperable with DSPs, Exchanges, SSPs and other ad technology partners. Visto provides clients a single interface to manage, track, and optimize media across multiple platforms and publishers while providing full transparency and side-by-side cost, performance and quality metrics across dozens of KPIs. Visto’s flexible interface can easily integrate existing or new platforms, screens, and formats, making it customizable to each client and flexible as the ad tech ecosystem continues to evolve.
“Collective is committed to helping clients gain better visibility and efficiency to drive more working media value out of each ad dollar. With this increased investment, we will be able to accelerate the rollout of new features and functionality in the second half of 2016 and into 2017,” said Joe Apprendi, Founder and CEO, Collective. “True accountability in our industry can only be obtained when enterprises have the technology and tools that allow them to accurately, consistently and transparently leverage data driven media, independent of platform, publisher or services team they work with.”
“TEGNA MEDIA has enjoyed a successful multi-year partnership with Collective, working together to innovate and expand our multi-media offerings,” said Dan Lyons, VP Sales Strategy & Development, TEGNA MEDIA. “In Visto we see a huge opportunity to build on our existing relationship and integrate multiple disciplines of our marketing and sales offering under a single, unified workflow and analytics platform that will allow us to operate more efficiently and bring greater transparency to our clients.”
“McKinney is always seeking ways to make our clients media dollars work harder, perform better and drive strong business results,” said Katie Fulp, Associate Media Director, McKinney. “This is why we were excited to be one of the launch customers of Collective’s Visto enterprise advertising hub, which allows us to easily see performance transparently, compare results across multiple partners and make faster and better decisions to increase ROI. Together with our account strategists at Collective, we are using Visto to deliver increased insights and test new strategies to bring continued innovation to our clients.”
Collective empowers enterprises with data-driven technology and programmatic expertise to unify digital advertising across platforms, screens and formats. Through Collective’s Visto™ enterprise advertising hub and digital advertising network, Collective provides industry-leading transparency, interoperability and accountability across ad technology platforms. To learn more about Collective, visit www.collective.com.
Vice President, Corporate Marketing
Photo courtesy of Collective