Dive Brief:
- The programmatic ad platform PulsePoint announced on Monday that it had received $30 million in debt financing from Silicon Valley Bank, Ad Exchanger reports.
- The cash infusion will likely be used to acquire companies that will complement PulsePoint’s existing technology, according to CEO Sloan Gaon.
- PulsePoint was created in a 2011 merger between Datran Media and ContextWeb, and has scaled back operations to focus only on programmatic advertising since then.
Dive Insight:
PulsePoint is looking to acquire companies that can complement its existing programmatic ad tech, and received $30 million in debt financing from Silicon Valley Bank to set the plan in motion.
“Programmatic is in our blood," Gaon told VentureBeat about the platform. "Brands have been creating content, but the problem [has been] distribution at scale.”
“The average American sees around 3,500 ads a day – and that means the message is getting lost," Gaon said to Ad Exchanger. "To combat that, more and more brands are starting to create unique and engaging content, and they need that content to be targeted to their key demographics.”
With the new funding, PulsePoint is likely to target content, mobile and video companies for acquisition.
Earlier this summer, PulsePoint launched a content marketing platform to programmatically serve native ads for sponsored content as well as distributing ads via APIs to social and content discovery networks.