SteelHouse Secures $49 Million In Funding
Defies Ad Tech Market Trend
Ad Software Company Raises Significant Capital with Industry-Leading Technology and Exceptional Growth
Advertising software company, SteelHouse, today announces a $49 million round of funding. This comes at a time when many advertising technology companies are running into challenges securing financing from traditional venture capital funds.
SteelHouse continues to maintain a rapid growth trajectory, with 158% YoY growth in 2015, and anticipates continued acceleration on the seasonal tailwinds of Q4. For the month ending November 2015, the company grew 174% YoY and expects to end 2015 with a run rate of $130 million.
SteelHouse’s unified technology platform enables marketers to drive measurable performance across retargeting, prospecting, social, and mobile campaigns. To date, the SteelHouse platform has managed approximately 40,000 campaigns for over 2,000 clients, including many top 100 brands.
The recent financing round was led by Mercato Partners, a Salt Lake City-based growth capital provider, and included participation from Staley Capital and Silicon Valley Bank.
“We are changing the advertising space by providing a single, unified advertising platform that provides brands and agencies complete control and transparency for their advertising campaigns,” said Mark Douglas, President and CEO of SteelHouse, “This latest round of funding proves we are successfully disrupting and improving the way advertisers approach digital advertising.”
“We see a massive opportunity in ad tech to consolidate and streamline what is currently an inefficient media buying process,” said Greg Warnock, Managing Director from Mercato Partners. “The more time we spent with SteelHouse, the more we became believers in the strength of their technology platform and their ability to create a company culture around sales execution and superior customer support. ”
“We are excited to partner with SteelHouse as they mature to their next phase of growth,” added Stephen Hughes, Managing Director at Silicon Valley Bank. “Our objective is to help the SteelHouse team move their business forward quickly with the right financing, connections and global services.”