Adtech Platform MNTN Raises $119M Series D to Grow Its Team

The company’s self-serve platform provides advertisers with a way to buy CTV ads and measure their performance in real time.
Written by Jeremy Porr
February 1, 2022Updated: February 1, 2022
MNTN’s self-serve platform provides advertisers with a way to buy CTV ads and measure their performance in real time.
IMAGE: BUILT IN

Culver City-based adtech firm MNTN announced Tuesday that it raised $119 million in fresh financing. The massive Series D round was co-led by VC heavy hitters BlackRock and Fidelity Management. 

MNTN bills itself as the world’s first connected television (CTV) advertising platform optimized for direct-response marketing goals. The company’s self-serve platform provides advertisers with a way to buy CTV ads and measure their performance in real time. 

CTV is an industry term used to describe any television set or device that can stream video over the internet. A few examples include gaming consoles, smart TVs and connected devices like Amazon Fire Stick, Apple TV and Roku.

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“Television is the most powerful ad medium in the world,” a spokesperson for the company said in a statement. “We believe that it belongs right alongside paid search and social in advertisers’ direct-response marketing strategies.”

MNTN’s full product suite includes a range of targeting, measurement and automated optimization tools. With MNTN, customers can reach over 150 streaming networks, including CNN, Discovery+, ESPN, Hulu and Food Network.

“We’ve transformed CTV from a brand marketing channel to one that functions like paid search and social — allowing you to launch self-managed campaigns that focus on conversions and revenue,” the spokesperson continued. 

A majority of TV viewers prefer streaming over broadcast television these days, and the digital ad industry is booming as a result. CTV ad spend increased 59.9 percent year-over-year to $14.44 billion in 2021, according to the company. 

MNTN isn’t the only LA-based startup raising capital in the CTV world. In April of last year, Iris.TV grabbed $18 million to scale its data targeting platform for connected television.

Following the latest raise, MNTN plans to continue to invest in its platform, products and people. The company is now hiring for 18 roles spanning its engineering, product and sales teams, to name a few.

Jobs at MNTN

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