Madhive secures $300m investment from Goldman Sachs

Madhive CEO, Adam Helfgott

Madhive, an advertising software platform engineered for modern TV advertising, has signed a definitive agreement with the Private Equity business within Goldman Sachs Asset Management (Goldman Sachs) for a $300m (£239m) investment in the company. 

Madhive’s connected TV (CTV) advertising software platform is helping the TV industry’s expansion from linear TV advertising into streaming, primarily through its large local broadcaster clients, including FOX, Scripps, and TEGNA, among others. Madhive said the partnership with Goldman Sachs will enable it to further accelerate the growth and adoption of its CTV platform, most notably within the local advertising market, as well as expand new channels such as national/direct-to-consumer advertisers and retail media networks, who are looking to modernize and scale their CTV offerings.

Madhive was founded in 2016 with the original mission of transforming the $360bn digital TV advertising industry. Co-founders, Adam Helfgott and Tom Bollich, serial entrepreneurs from outside the ad tech space, saw a more efficient and streamlined way to build for the nascent CTV industry across both the supply and demand side. 

“Since inception, Madhive has been on a mission to modernize and simplify the ad-tech ecosystem. We purpose-built the Madhive platform in anticipation of the growth of streaming TV, investing in engineering, technology, and infrastructure,” said Helfgott. “Our growth stems from collaborating with partners to solve a host of their unique requirements. Through our fully end-to-end tech stack for TV advertising, media sellers and advertisers have the flexibility and tools to reach streaming audiences efficiently at scale.”

Madhive’s full-stack programmatic platform powers hundreds of millions of dollars in media across 20,000+ daily campaigns. The self-service platform is completely configurable and has tools for planning, targeting, activating, and measuring programmatic TV campaigns. The company is headquartered in New York and has approximately 200 employees, with headcount expected to increase by 20 per cent this year.   

“We have been deeply impressed with Madhive’s growth and success in the local CTV advertising market within just seven years since its inception,” said Leonard Seevers, a Partner and Co-Head of Technology, Media and Telecom investments in the Private Equity business within Goldman Sachs. “We are incredibly excited to partner with the Madhive team to drive long-term growth and value creation together.”