Simpli.fi Closes $16MM Round of Series B Funding to Expand Programmatic Marketing Solutions Using Unstructured Data
Frontier Capital Leads Investment to Fuel Accelerated Revenue Growth and Local Media Expansion
FORT WORTH, Texas, December 12, 2013-- Simpli.fi, an advertising technology company delivering highly targeted programmatic marketing solutions using unstructured data, today announced it has closed a $16 million Series B growth investment led by Frontier Capital. Several existing investors, including Contour Venture Partners, also participated.
The latest financing will be used to support accelerating demand from agencies, trading desks, local media networks, and other marketers looking to take advantage of the benefits of unstructured data in programmatic marketing. The company intends to increase sales and marketing efforts, and also continue development of Simpli.fi's proprietary In.finity Programmatic Marketing Platform across media types including display, mobile, and video. The company will focus much of its employee growth in its corporate headquarters in Fort Worth, Texas.
"It is estimated that more than 80 percent of all business data is in an unstructured format, yet we are the only platform that has the capability to apply that information to programmatic marketing," said Frost Prioleau, CEO and co-founder of Simpli.fi. "Our ability to utilize unstructured data for audience targeting, real-time bidding, optimization, and reporting at the individual data element level improves on the legacy approach of segment-based marketing, enabling precision and performance at any scale."
Michael Ramich, partner at Frontier Capital will join the Simpli.fi Board of Directors. Frontier Capital, a Charlotte, North Carolina-based growth equity firm that was recently awarded the Tech Titans Investment Catalyst award by the Metroplex Technology Business Council for its significant investments in the Dallas-Ft. Worth area, believes Simpli.fi is positioned to deliver major advances in programmatic marketing solutions for both national and local advertisers and publishers.
"Simpli.fi has the potential to disrupt the programmatic marketing space with its proprietary technology and proven service model," said Ramich. "Simpli.fi's use of unstructured data meets a critical market need to deliver the efficiencies of programmatic buying and the effectiveness of custom-built audience targeting and optimization to advertisers of all sizes."
Since the company's founding in 2010, Simpli.fi has experienced a 242 percent compound annual growth rate, with more than 50,000 successful advertising campaigns launched through the Simpli.fi platform.
"We are pleased to continue our investment in Simpli.fi," said Bob Greene, Managing Partner of Contour Venture Partners who invested in Simpli.fi's previous $4 million raise. "We believe in the technology, the team, and the proven revenue model in the local advertising market. We are thrilled to continue supporting its growth."
Simpli.fi is an advertising technology company that simplifies digital advertising through the use of unstructured data. Our In.finity™ Programmatic Marketing Platform enables marketers to use unstructured data to extract unlimited value from real-time bidding (RTB) advertising exchanges. With In.finity, advertisers can target, bid, optimize and report at the data element level. For more information about the company or reseller opportunities call (855) 803-6909 or visit www.simpli.fi.
About Frontier Capital
Frontier Capital is a Charlotte-based growth equity firm focused exclusively on technology enabled business services. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. We make minority and majority equity investments in high growth companies and have built an excellent track record of delivering returns to both our investors and management partners. For more information, please visit www.frontiercapital.com.
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