Beeswax, a New York-based extensible programmatic buying platform company, recently announced it has raised $15 million in Series B funding led by RRE, Foundry, and Amasia. You & Mr Jones also participated in this round. Including this round, Beeswax has raised $28 million in funding.
One of the biggest reasons why Beeswax is rapidly growing across North America, Europe, and APAC is due to the company’s adoption of major industry shifts with the rise of Connected TVs and surge of brands in-housing their programmatic strategies.
Photo: Beeswax
“Beeswax’s mainline proposition as a Bidder-as-a-Service, in addition to stellar leadership, puts them in an incredibly attractive light. For an industry that spent the past few years demanding more transparency from the advertising ecosystem, the emergence of a SaaS technology built to meet those demands head-on is not only a rarity but a major point of progress,” added Foundry Group co-founder Seth Levine. “Bringing this differentiator to Connected TV capabilities only strengthens their position.”
Beeswax’s signature Bidder-as-a-Service (BaaS) platform has seen 150% year-over-year revenue growth and it empowers their customers with a cloud-based programmatic buying system that can be customized and integrated to match their unique business needs.
The flexibility of Beeswax’s BaaS platform enables companies looking to have better control over their programmatic strategies with a cost-effective, efficient, and scalable alternative to custom-built software or typical DSPs. Some of Beeswax’s media and marketer customers include Twitch, Dailymotion, Iotec, Foursquare, and Social Point.
“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.”
The programmatic industry is expected to grow to two-thirds of global digital media spend this year. And programmatic is increasingly becoming the mainstream method for transaction digital media.
Twitch director of Advanced Media Services Brian Christmas said that Beeswax’s Bidder-as-a-Service technology enables advertisers to reach high-engaged customers based across and outside of the Twitch network. “The flexible infrastructure provided by the Beeswax platform allows us to deliver custom, high-quality, dynamic ad units, further nurturing the already loyal Twitch customer base and driving our business,” added Christmas.
