Dstillery Receives $24 Million in Venture Funding to Accelerate Growth
NEW YORK, N.Y., July 30, 2014-- Dstillery, the pioneer in cross-device audience targeting for brands, announced today that it has closed a $24 million Series C financing, bringing its total funding to $48 million. The round was led by NewSpring Capital, with participation by existing shareholders U.S. Venture Partners, Menlo Ventures and Venrock. The company will use the capital to augment infrastructure, accelerate hiring and expand into new markets, as well as explore strategic acquisitions. As part of its commitment to Dstillery, NewSpring partner Mike DiPiano has joined the company's board.
The investment allows Dstillery to aggressively pursue huge new opportunities in cross-device solutions for marketers, and follows a period of both remarkable growth and industry accolades. Revenue in the first half of 2014 was up 50 percent from the prior year, while staff grew by 40 percent. Dstillery was recently selected as a premier partner by both Twitter and LinkedIn.
"For five years, we have focused on finding signal in massive data sets, and have become the leading provider of scalable data-driven solutions for marketers," said Tom Phillips, CEO of Dstillery. "This funding is both a testament to that success and evidence of our commitment to building the best multi-platform marketing solutions for brands."
"We have seen a massive shift toward programmatic advertising," said DiPiano. "In a marketplace that supports several billion dollar company valuations, we see Dstillery as in a league of its own. I'm excited to be working with this accomplished team on its next growth phase."
The company plans to open new offices in key markets, expand its sales and account management teams, build its world class data science, engineering and infrastructure teams, and develop new products, including marketing automation tools for clients. Potential acquisition targets include mobile, international and data companies.
Dstillery is the former Media6Degrees. We're at the forefront of advertising technology, pioneering new ways to create brand value for marketers by extracting signals from the complete customer journey and activating them across all screens. We're building on five years of leading the data revolution in marketing to drive even greater impact for your brand. Dstillery was recently recognized by Forbes as one of America's Most Promising Companies and by Crain's NY as the #10 Best Place to Work. More info at www.dstillery.com.
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