SOURCE: Altitude Digital

April 16, 2015 11:00 ET

Altitude Digital Closes $30 Million in New Financing

Video SSP Will Use Funds for Technology Platform Development, Data Infrastructure, Mobile Capabilities and International Expansion

DENVER, CO--(Marketwired - Apr 16, 2015) - Altitude Digital, the largest independent video supply-side platform (SSP), has closed its largest funding to date with $30 million in financing from FastPay, the leading provider of liquidity and financial workflow solutions to the media industry.

Altitude Digital has experienced tremendous growth since its last financing in 2014, placing it among the 10 largest video platforms according to both comScore and Quantcast. This new capital infusion will drive further development of the company's ARENA Supply Side Platform, with emphasis on data capabilities and expanded mobile advertising support for publishers. Additionally, the company is growing its international footprint and supply.

"This is a very important time in video advertising's development and Altitude's role in shaping the future," said Jeremy Ostermiller, CEO and founder of Altitude Digital. "This partnership with FastPay will help us continue to build the technology and global team to lead the next stage of evolution in online video and mobile advertising."

The financing comes during a period of technologic advancement at Altitude Digital, spearheaded by Chief Technology Officer Manny Puentes, who joined the team in December 2014. Puentes and his team have designed a new big data infrastructure and launched a new global data center, while continuing product and platform development.

"Altitude Digital stands on the cutting edge of advertising technology, and this financing will help them continue to grow and develop solutions that aid publishers as they embrace video advertising," said Jed Simon, FastPay CEO. "As advertisers continue to invest in video, Altitude is in prime position to help publishers seize the opportunity across all screens."

Altitude Digital has previously raised $15 million in growth financing and has been profitable since its launch in 2009. "Our partnership with FastPay improves our balance sheet flexibility and allows Altitude Digital to accelerate its strategic investments," said Brad Downes, CFO of Altitude Digital. "The timing of this capital raise marks an important inflection point in the company's growth."

About Altitude Digital
Altitude Digital delivers technology that optimizes and streamlines the connection between buyers and sellers of online video and mobile advertising. Altitude's ARENA™ Video SSP delivers greater control and performance for video publishers. The company is one of the fastest growing video advertising marketplaces and is listed as one of the 10 largest video platforms by both comScore and Quantcast. Altitude Digital is headquartered in Denver, Colorado with offices in Los Angeles, New York and San Francisco.