On Thursday, TripleLift, the programmatic native technology company, closed $10.5 million in Series B funding led by Edison Partners.
Founded in 2012, the startup TripleLift’s technology allows its publishers to generate and deliver in-feed native ads automatically. Since its launch, the company has grown 533% over years via partnerships with more than 1,500 top publishers that consists of Conde Nast, The Atlantic and Hearst Newspapers. Eric Berry, CEO and co-founder of TripleLift said, “Our vision at TripleLift is to transform advertising and build a scalable platform that respects the user, the publisher and the advertiser. This is a paradigm shift away from flashing and blinking ads that undermine the user experience.” He also added, “We are seeing brands and agencies shift budget from banner ads into higher performing native ads and in-feed native ads transacted programmatically is emerging as the first step in a meaningful evolution of the display advertising market.”
In the last year, the TripleLift has looked into both native programmatic and direct-sold native placements. The company attached to the major DSPs with the help of newly formed OpenRTB 2.3 standard to assist the native programmatic placements. The company now has more than 100 advertisers in the program following the launch of the Microsoft Store in the fall. Considering the fill rates are less due to new native market, the company allows publishers to direct sell in-feed placements themselves with Condé Nast’s Food Innovation Group who is an early partner in the field. In the past year, the company has grown from less than 100 publishers to 1400 publishers. Every week it’s adding 30 to 40 publishers.
TripleLift’s relationship with the publishers has improved with the growing attraction on mobile. Ari Lewine, co-founder and chief strategy officer said, “Mobile has been extremely important to our business. It has been a catalyst for some of our massive growth this year, because in-feed ads are emerging as the standard for mobile.”
The new capital has been planned to be used for the company’s expansion of industry-first native ad exchange and increase the human resource of the company from 50 to 100 or more. Edison Partners joins existing investors that include True Ventures, INovia Capital, Laconia Capital and NextView Ventures. “TripleLift is uniquely positioned to deliver content at scale on the publisher’s terms and without diluting the brand’s mission,” said Ryan Ziegler, General Partner at Edison Partners. “We are excited to be partnering with a team who has created the next-generation ad infrastructure for more engaging digital advertising experiences that make transacting frictionless between advertisers and publishers,” added Ziegler.
New York based TripleLift is the first investment for Edison Partners VIII and the twenty-fourth investment by its Interactive Marketing & Digital Media Practice, that targets on marketing and ad technology, data services, interactive entertainment and the social media economy. The startup raised $2.1 million in seed funding in March 2013 and $4 million in Series A funding in March 2014.