Hudson MX, an advertising technology business providing media buying and media accounting solutions globally through a cloud-based SaaS platform, today announced completion of its series D financing led by Ascential plc (LSE: ASCL.L), the specialist information, data and analytics company. The financial round provides up to $63.5 million in Hudson MX funding.
JT Batson, CEO of Hudson MX, commented: “The Marketing industry’s need for a next-generation SaaS platform to enable proactive management of media planning, buying and accounting has never been at a more critical stage. We designed the Hudson MX platform to provide real-time management of greater business complexity to keep up with the major drive in digital media purchasing. With Ascential’s intricate knowledge of the agency ecosystem and delivering solutions at scale, our collaboration with Duncan and his team will play an invaluable role in our future success. We are honored by their continued faith in us and we look forward to growing with them in 2021.”
Duncan Painter, CEO of Ascential, commented: “As a company that has successfully created and built next-generation digital platforms across Digital Commerce, Product Design and Marketing, Ascential is proud to deepen our relationship with Hudson MX as they continue to scale their impressive system built on next-generation, cloud-based technology that will enable clients to transform their service and business impact.”
Commenting on the demand for the type of new solutions that Hudson MX brings to the media marketplace, Michael Kassan, Chairman & CEO of MediaLink, an Ascential company, said: “The limitations of the current capabilities serving the industry are clear. Companies need to proactively manage their services today and not be constrained by their systems. A $500 billion media industry has been run on technologies built decades ago that have not kept pace with the needs or demands of marketing transformation. Hudson MX can provide today the next-generation system that the industry has been crying out for and will step change the entire industry’s ability to transform how media is planned, managed and accounted for.”
Proceeds from Ascential’s prior investment have fueled Hudson MX’s product innovation, scaled its service offering, and bolstered support for its rapidly expanding client roster. Ascential’s additional commitment will enable Hudson MX to continue to scale its platform and organizational structure at an accelerated pace that supports the tremendous client demand for its capabilities.
Separate to the funding, Ascential is also providing access to senior team members who have built and scaled their existing world-leading digital platforms to be advisors to Hudson MX, to further develop the company’s enterprise-level engagement model while concurrently scaling the platform to multiple clients. In addition, the advisory team will help ensure excellence in ongoing product, engineering, program management and implementation to address clients’ needs with the agility, pace, and rigor required to succeed in the industry’s rapidly evolving and fragmented media ecosystem.
Check Out The New Martech Cube Podcast. For more such updates follow us on Google News Martech News