Amadeus backs advertising technology company, Magnetic, with $11m funding
Thursday 23 July 2015
Amadeus Capital Partners, the global technology investor, has invested $11m in New York-based digital advertising technology company, Magnetic. The investment represents the second closing of a $36m round of equity financing for Magnetic.
Magnetic’s proprietary technology collects online search and purchase intent signals from prospective shoppers on hundreds of thousands of sites and reaches consumers across the web with relevant messages.
Magnetic’s recent merger with MyBuys will enable marketers to connect more effectively with people by creating a single, comprehensive view of their purchase journey. MyBuys leverages a deep knowledge of consumers’ online and offline purchases and shopping behaviours to enable personalised targeting. This helps marketers to prospect, acquire, convert, and reactivate customers across a variety of channels including display, email, on-site, and mobile – all on one simple platform in real-time.
The merger has expanded Magnetic’s customer base to 700 brands worldwide and will bring revenues to $100 million.
“We help marketers transform the way they connect with their customers,” said James Green, CEO of Magnetic. “Marketing automation and programmatic buying are two essential yet separate elements of every brand’s marketing strategy and Magnetic is at the forefront of a dramatic shift in this sector. This funding from Amadeus, added to that from a group of investors led by Edison Partners, will enable us to consolidate our merger and offer an exciting range of products across all channels to advertising agencies and companies selling direct, wherever they are based.”
Commenting on the investment, Amadeus Partner Pat Burtis, says: “Magnetic has led the way in proving that search retargeting is a highly effective and scalable way to find and convert online customers. Following the merger with MyBuys, the company is positioned to lead the market by combining AdTech and MarTech into one seamless and powerful offering. We are delighted to support the company and its exceptional team as it moves into this new phase of innovation and growth.”
For further information, please contact: Chantal Ligertwood, PR for Amadeus, firstname.lastname@example.org or 07976 229 210
NOTES TO EDITORS
Amadeus Capital Partners is a leading technology investor. Since its inception in 1997 the firm has raised over $1bn for investment and backed more than 90 companies in the software, mobile, internet, cyber security and medical technology sectors. The investment team is global (UK, Sweden, USA, India and South Africa), has deep experience in technology and invests in high-growth companies at all stages of development, from seed and early stage to pre-IPO.
Major businesses built by Amadeus include CSR (LSE:CSR), a connectivity, audio, imaging and location semiconductor company; Solexa, the developer of next generation genetic analysis systems, merged into Illumina (ILMN) to create the world leader in gene-sequencing technology, Octo Telematics, the global leader in insurance telematics services acquired by Renova Group; Transmode (ST:TRMO), an optical networking solutions business, and Tobii (STO:TOBII), the world leader in eye-tracking. For more information, please visit http://www.amadeuscapital.com
Magnetic is a digital technology company specializing in retargeting solutions that combine intent data with display advertising to power brand awareness and direct response campaigns. Magnetic uses billions of search data queries and a proprietary bidder to programmatically buy and reach audiences who have signalled either interest or purchase intent where they spend 96% of their time online – on news sites, blogs, e-commerce sites and social networks. Founded with a specialized focus on search retargeting, Magnetic’s advertising solutions also extend to site retargeting, and include advanced media optimization and buying and dynamic creative capabilities.
Magnetic is headquartered in New York City, and has offices across North America and Europe. For more information please visit http://www.magnetic.com.