New Enterprise Associates Continues to Support MediaBank's Commitment to
Technology Solutions for Media Buying
CHICAGO, April 21 /PRNewswire/ -- MediaBank, a leading provider of
integrated procurement technology and advanced analytics to the advertising
industry, today announced it has completed a $30 million round of equity
funding by New Enterprise Associates (NEA). This is the second round of
funding in MediaBank from NEA and follows a July 2007 investment of $10.5
million, further demonstrating the venture capital firm's commitment to
MediaBank's mission to provide superior solutions to the media buying
industry.
"We are excited that NEA has shown a continued interest through a
second round of funding that will help establish MediaBank's position at
the forefront of the industry," said Brad Keywell, founder of MediaBank.
"NEA's investment will enable us to maintain our aggressive development of
the best media management systems for advertisers and media buyers."
MediaBank provides software solutions that allow media buyers to manage
media procurement, planning, billing, and tracking across all advertising
channels -- analog, Web-based and digital media -- utilizing a single
platform capable of integrating data and systems from a variety of sources.
The scalable platform also allows for flexible workflow methodology and
provides an integrated analytics suite for the best insights into data
across all media types.
"MediaBank has built its platform with an understanding of technology
and the impact it can have on the advertising industry, specifically the
challenges faced with new types of media," said Peter Barris, managing
general partner at NEA. "We believe the company is raising the bar on
features and functionality when it comes to the technology side of media
buying, and is helping to improve the way business is done."
A leading venture capital firm with $8.5 billion in committed capital
across its affiliated funds, NEA is focused on helping entrepreneurs create
and build major new enterprises that use technology to improve the way
people live, work and play. In keeping with its mission, NEA has invested
in MediaBank as a company that improves the way media buyers work by
developing software that offers analytical insight to the media buying
process throughout its many stages, making advertising more efficient.
This latest round of funding from NEA will not only enable MediaBank to
continue focusing on solutions for managing the media buy lifecycle within
all current media types, but allow the company to continue to support the
research and development of solutions for future media types as well.
About MediaBank, LLC
Privately-held Chicago-based MediaBank, LLC is a leading provider of
integrated procurement technology and advanced analytics to the advertising
industry. MediaBank solutions allow for unprecedented cross-media analytics
and intelligence through superior planning, buying, workflow and data
warehousing tools. The cornerstone of MediaBank's solution is the MediaBank
O|X platform, offering buying, financial, and workflow tools across all
media types, complemented by the MediaBank I|Q database and data
warehousing system. The MediaBank A|X platform provides advanced analytics
and predictive modeling, and the MediaBank X|G platform offers a new and
innovative way for media buying transactions to take place. For more
information on MediaBank, visit: http://www.mbxg.com.
Contact:
Jordan Rittenberry
Edelman for MediaBank
312-233-1226
jordan.rittenberry@edelman.com
SOURCE MediaBank, LLC
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Related links:
http://www.mbxg.com
CONTACT:
Jordan Rittenberry of Edelman,
+1-312-233-1226, jordan.rittenberry@edelman.com, for MediaBank
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