MediaGamma, mentored by Accelerate Cambridge, closes seed financing round.
MediaGamma, a programmatic digital advertising venture co-founded by a Cambridge Judge MFin graduate and mentored by Accelerate Cambridge, has closed its seed round of financing in which it attracted funding from investors such as UCL Business. This funding augments £200,000 in grants from the UK government’s Innovate UK grant programme.
MediaGamma is an automated futures and options exchange for programmatic digital advertising which is currently being piloted with a number of participants. The company’s CEO and co-founder is Rael Cline, who earned a Master of Finance (MFin) degree from Cambridge Judge in 2011 and is now participating in the Accelerate Cambridge programme.
Some of MediaGamma’s other early backers and board members include John Taysom, CEO and Founder of the Greenhouse Fund and RVC (originally Reuters Venture Capital) and now a prominent angel investor, and Angus Bankes, Founder and CTO of Moreover Technologies (sold to Verisign) and current CIO of Skimlinks.
The global programmatic advertising marketplace is forecast to reach $53 billion by 2018, according to research released last year by Magna Global, the strategic media unit of the global advertising company Interpublic Group.