NewSpring Capital Leads Equity Investment in Dstillery, Inc.
July 30, 2014
RADNOR, PA - July 30, 2014 - NewSpring Capital, a family of private equity funds providing growth and expansion capital, announced today that NewSpring Growth Capital III, the firm's dedicated technology and business services growth equity fund, led a $24.0 million Series C equity financing in Dstillery, Inc. ("Dstillery" or the "Company") with a $15.0 million investment. Existing investors, U.S. Venture Partners, Menlo Ventures and Venrock, also joined NewSpring Capital in the financing.
Headquartered in New York, Dstillery operates within the digital advertising ecosystems allowing brands to target advertisements to new customers across devices. The Company's core capabilities include managed-service campaigns that provide account teams to execute programmatic ads targeted to consumers across devices; self-service campaigns that provide self-service software to execute programmatic ads targeted to consumers across devices and white labeled technology that provide in-house technology to content publishers to build their own in-house data audiences.
"For five years, we have focused on finding signal in massive data sets, and have become the leading provider of scalable data-driven solutions for marketers," said Tom Phillips, CEO of Dstillery. "This funding is both a testament to that success and evidence of our commitment to building the best multi-platform marketing solutions for brands. We look forward to working with NewSpring Capital in the years to come."
Mike DiPiano, Managing General Partner of NewSpring Capital, who now joins Dstillery's Board of Directors, said, "We have seen a massive shift toward programmatic advertising in a marketplace that supports several billion dollar company valuations. We see Dstillery as in a league of its own. I'm excited to be partnered with this accomplished team on its next growth phase."
Dstillery is the former Media6Degrees. The Company is at the forefront of advertising technology, pioneering new ways to create brand value for marketers by extracting signals from the complete customer journey and activating them across all screens. Dstillery is building on five years of leading the data revolution in marketing to drive even greater impact for your brand. Dstillery was recently recognized by Forbes as one of America's Most Promising Companies and by Crain's NY as the #10 Best Places to Work. For more information, please visit www.dstillery.com.