Metamarkets has raised $15 million in a round led by Data Collective, a VC firm in which Metamarkets CEO Mike Driscoll is a partner.
Other new investors include John Battelle, LiveRamp founder Auren Hoffman and City National Bank. Existing investors Khosla, IA, True and Village Ventures also joined in.
The company’s total funding to date is $43.5 million.
No one is taking money off the table, according to Driscoll, who told AdExchanger, “All of the proceeds are going to fund the growth of the business.”
Founded in 2010, Metamarkets is a real-time analytics platform for programmatic buyers, sellers and exchanges, and a broad range of customers therefore use the firm’s software. Clients include OpenX, MoPub, Yahoo, Twitter, LinkedIn, Millennial Media and Financial Times.
Essentially, Metamarkets helps its clients make sense of media transactions, without pooling data from its clients. Instead, the firm works with exchanges that share data streams, on top of which Metamarkets runs analytics in real time.
Metamarkets’ SaaS platform also couples together a time-series database, dubbed Druid, with an interactive visualization capability, called Facet.
According to Driscoll, Metamarkets’ clients choose its solution over opting to build a similar product in-house, which means Metamarkets’ competitors would include some combination of a firm like Hadoop for data processing, a company like Vertica for storing data and another visualization tool like Tableau.
Beyond the latest injection of funding, Metamarkets recently revealed that it has doubled its client base and tripled its YoY revenues, which Driscoll chalks up, in part, to rising investments in programmatic. He added that, as automation takes off, “A lot of folks are starting to recognize that reporting on programmatic data is a different beast than more tradition I/O-style data.”
With the new funding, Driscoll said Metamarkets would scale out its infrastructure, build up its engineering team and deepen its product’s strength in native and in video. But the long game for Metamarkets could also include mobile data streams.
“The technology that we’ve built certainly has the ability to do more than what we’re doing with it today,” said Driscoll. “There are other kinds of real-time transaction streams that folks are interested in gaining insight into.”
Those other streams could include high-frequency data sets from mobile or IoT devices, said Driscoll, which can inform the type of media a user consumes as well as his or her location.
“Ultimately, with the rise of mobile devices, there’s going to be an entirely new class of mobile data that has relevance to folks in the programmatic realm,” he added.
Metamarkets employs about 50 people.
