Ad tech firm Beeswax has received $15m in a Series B funding round as it continues to expand across North America, Europe, and Asia-Pacific. The investment was led by RRE Ventures, Foundry Group, and Amasia, along with participation from You & Mr Jones.
The latest round brings the total funding in Beeswax up to $28m so far – RRE and Foundry having contributed to its Series A funding round.
According to the company, its bidder-as-a-service (BaaS) platform is experiencing 150 per cent year-on-year revenue growth. The platform provides a cloud-based programmatic buying system that can be customised and integrated.
“Brands shouldn't look at the upward trend of programmatic and do nothing. Ultimately, success in programmatic leads to success in the market,” said Ari Paparo, CEO of Beeswax. “When marketers make programmatic a core competency in the stack, they begin to recognize a scalable revenue channel that can compete, at the highest level, with Google and Facebook.”