MediaMint, a digital advertising operations service provider, announced that Everstone Capital and Recognize have made a significant strategic investment in the company.
This marks the first institutional capital for MediaMint, which will help accelerate the company’s roadmap as it continues to serve leading digital marketing platforms, publishers and agencies around the world.
Aditya Vuchi, chief executive officer and co-founder of MediaMint said, “MediaMint has built a strong foundation focused on delivering high-value outcomes through process excellence and deep domain expertise for our global base of digital marketing clients.”
He added, “Working with Everstone and Recognize will enable us to enhance our global infrastructure to better service our clients with on-shore account management, incremental global delivery centers, and an expanded solution set.”
MediaMint, with 2,000 employees across offices in San Francisco, New York, Hyderabad, and Krakow, delivers operational digital marketing support, including ad operations, creative services, and customer services to over 100 global customers including some of the largest and most sophisticated digital marketing platforms, publishers, and agencies in the world.
The digital marketing space is projected to grow 13 percent per year to $670bn in 2030, driven by expanding digital channels and creator platforms, enhanced data capabilities available to businesses and consumers, as well as the rapid rise in people creating digital content.
“MediaMint is a leader in transforming the digital advertising workflows of the largest advertising platforms, publishers and agencies in the world. We look forward to working with the exceptional team at MediaMint to build on their strong base and assist in their next phase of growth, which will include significant global expansion as well as enhancing service line capabilities,” said Avnish Mehra, vice chairman, Private Equity at Everstone Capital.
“MediaMint is the ideal technology-enabled services company we look for at Recognize,” said David Wasserman, co-founder and managing partner at Recognize.
He mentioned, “With its deep domain knowledge and history of delivery excellence, MediaMint is uniquely positioned to capture the wave of digital advertising growth over the next decade.”
As part of the process, Rajeev Butani is joining as the executive chairman of MediaMint. Butani was previously the senior managing director and group technology officer for Accenture’s communications, media and technology operating group globally, and also served on Accenture’s Global Leadership Committee.
DC Advisory has acted as the sole financial advisor for MediaMint on the transaction.