Operative Announces $10 Million in Funding to Support Expansion Plans
New York, NY (Vocus/PRWEB) — Operative Media Inc., the advertising business management company, today announced $10 million in funding, including from ORIX Venture Finance and a private investment firm, both financial institutions serving companies in the technology space. The funding follows the recent Solbright acquisition and launch of Operative.One and will support further growth and expansion initiatives.
Specifically, Operative will use the new funds to enhance go-to-market initiatives and expand its presence in key geographical markets, including North America, United Kingdom, Australia and Brazil, primarily through sales talent acquisition. The company will also use the funding to further expand its portfolio of offerings that bring together demand and supply-side processes and technologies for clients. Major media clients such as The Wall Street Journal, NBC Universal, National Public Media, MSN and OMD, rely on Operative to boost advertising sales and operational efficiencies and minimize transaction costs.
“Today, the digital media industry spends an astounding 30% of revenue executing transactions, and that number is unsustainable,” said Michael Leo, CEO and President of Operative. “Operative’s growth is fueled by the industry’s desire for simplicity, as simplicity gives media companies the freedom and agility they need to harness innovation and accelerate growth. Our publisher and agency clients are able to run increasingly complex advertising businesses with greater ease, so that essential innovation is no longer disruptive to their core business functions, and can be channeled towards new revenue opportunities. This round of funding allows Operative to transform the profitability of the media industry, faster.”
“The recent Solbright acquisition has given Operative a unique competitive differentiator in its ability to deliver a one-stop, cost efficient and scalable software and services solution,” said William Bishop of ORIX Venture Finance. “We are delighted to support the company in its quest to expand its technology and geographical footprint.”
In October 2010, Operative launched the first ad business management platform, Operative.One. The solution joins the demand and supply sides of the advertising ecosystem, eliminating complexities of the digital value chain by integrating all processes and systems necessary to package, sell, traffic, manage, optimize and bill ads.
Shortly thereafter, Operative acquired Solbright, a pioneer in digital advertising operations solutions. The acquisition strengthened Operative’s market position, as the company now estimates it manages more than 30 percent of digital advertising spend, and boasts half of the top 50 online media leaders as clients.
Established in 2000, Operative is the advertising business management company that gives media industry leaders and their partners the freedom to move fast and forward with solutions that eliminate complexities within the advertising ecosystem. Through the alignment of people, process and technology, Operative.One brings together the business processes and systems necessary to package, sell, traffic, manage, optimize and collect revenue on advertising products. More than 200 industry leaders, representing more than 30 percent of digital advertising revenue, rely on Operative, including The Wall Street Journal, MSN, OMD, NBC Universal and National Public Media. Operative is headquartered in New York City.
About ORIX Venture Finance
ORIX Venture Finance focuses on customized financial solutions up to $50 million in capital per transaction to mid- and late-stage growth companies, but also looks for exciting opportunities to make earlier stage equity investments. Since its inception in 2001, ORIX Venture Finance has invested in more than 80 growth companies throughout the U. S. and Canada.
ORIX USA, the parent of ORIX Venture Finance, is a Dallas, Texas-based financial services and investment firm with over 1,400 employees and primary offices in Dallas, New York, Los Angeles, Columbus and Minneapolis. ORIX holds approximately $5.8 billion of assets and manages through various subsidiaries an additional $23 billion. ORIX USA Corporation is a wholly owned subsidiary of ORIX Corporation; a Tokyo-based, publicly owned international financial services company with operations in 27 countries worldwide. ORIX Corporation is listed on the Tokyo and New York Stock Exchanges.
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