TripleLift, the next-generation adtech platform focused on native programmatic advertising, has agreed to be acquired by Vista Equity Partners, the private equity firm founded by Robert F. Smith. The terms of the transaction were not disclosed but it has been reported that the transaction values TripleLift at $1.4B.
“We have developed into a leader in the advertising technology space and are excited about our next chapter,” said Eric Berry, Cofounder and CEO of TripleLift. “When looking for an investment partner, we placed a premium on a deep understanding of ad tech and a willingness to lean into developing our portfolio of innovative, high-growth products. Vista is that partner.”
We have developed into a leader in the advertising technology space and are excited about our next chapter. When looking for an investment partner, we placed a premium on a deep understanding of ad tech and a willingness to lean into developing our portfolio of innovative, high-growth products. Vista is that partner. – Eric Berry
Founded in 2012 by Ari Lewine, Berry, and Shaun Zacharia, TripleLift had raised a total of $16.6M in reported funding. Backers of the company include True Ventures, Social Starts, Entrepreneurs Roundtable Accelerator, Inovia Capital, Edison Partners, NextView Ventures, Mesa Ventures, Laconia Ventures, Liberty City Ventures, Peter Bordes, The Social Internet Fund, Paul Olliver, and Victoria Grace.
Berry will remain as CEO when the transaction is expected to close in Q2 2021. Last fall, TripleLift announced that its platform handled $1B> in lifetime advertising spend, with half that amount coming in the preceding twelve months. The company works with over 80% of the comScore 100 publishers, 100% of the Top 20 Demand Side Platforms (DSPs), and 100% of the AdAge Top 100 advertisers.
“TripleLift is a next-generation ad tech company that has successfully identified and developed multiple new markets since its inception,” said Michael Fosnaugh, Co-Head of the Vista Flagship Fund and Senior Managing Director. “In each case, they have created unique value to an entire ecosystem of companies, including brands, publishers, and partners, and we are thrilled to be working with Eric and the team to further scale their business.”
Source: Alley Watch
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