Growth round powers company’s international expansion, adds Hermes Growth Partners to board of directors
LONDON, NEW YORK, and VENTURA, CALIF. – Feb. 25, 2014 – Today, global demand-side platform The Trade Desk, Inc. announced $20M in Series B funding led by Hermes Growth Partners with additional participation from seed and Series A investor IA Ventures. The growth round will further power The Trade Desk’s expansion into its international markets, including Europe, Asia Pacific, Australia, and Northern Asia. Following the round, Alex Kayyal of Hermes Growth Partners joins The Trade Desk board of directors.
Within the last 12 months, The Trade Desk opened offices in Singapore, Sydney, Australia, and Hamburg, Germany, as well as expanding into major US media markets outside its Ventura, Calif. headquarters and New York and London offices. While the team has more than doubled in size, the company remains committed to growing strategically in core media markets in response to client demand.
Juan Villalonga, co-founder of Hermes Growth Partners and former chairman and CEO of Telefónica adds, “We are pleased to join Jeff Green and The Trade Desk as they grow the programmatic advertising ecosystem. The opportunity to expand internationally was of particular interest, and we are excited to partner with The Trade Desk in its next chapter of growth.”
Kayyal adds, “In meeting with the leadership team, understanding Jeff’s vision for the industry, and seeing their performance during the last four years, we knew we had found an opportunity to support a company at a core moment of growth. We look forward to sharing continued success.”
Series A investor IA Ventures, led by founder and managing partner Roger Ehrenberg, joined this funding round. Ehrenberg agrees: “We have been partners with Jeff and The Trade Desk since the beginning, and we’re thrilled to join a growth round that will fuel its phenomenal performance on a global scale.” Ehrenberg continues, “Jeff has achieved undeniable results and is laser-focused on evolving the advertising industry. It’s a combination we are proud to power.”
Green, The Trade Desk’s CEO and co-founder, highlights that the company has been profitable for more than a year, growing revenue by hundreds of percentage points year-over-year since inception on limited capital. “This round’s goal is to fuel uninhibited growth. Nearly $600B is spent in all advertising globally each year, and right now RTB represents only $4B. As budgets continue to shift into programmatic, we are building a buyer’s platform that will power companies for years to come.”
Green continues, “We found the right partners on this round in the team at Hermes Growth Partners, and are thrilled to see Roger and the team at IA Ventures double down on the success we have seen thus far.” The Trade Desk’s Chief Operating Officer, Rob Perdue, also joins the company’s board of directors.
About The Trade Desk, Inc.
The Trade Desk powers the most sophisticated buyers in advertising technology. Founded by the pioneers of real-time bidding, The Trade Desk has become the fastest growing demand-side platform in the industry by offering agencies, aggregators, and their advertisers best-in-class technology to manage display, social, and video advertising campaigns.
The Trade Desk empowers buyers at the campaign level with the most expressive bid capabilities in market, full-funnel attribution, and detailed reporting that illustrates the consumer journey from initial impression to conversion. By maintaining a pure buy-side focus, The Trade Desk delivers on branding and performance for clients worldwide.
Headquartered in Ventura, Calif., The Trade Desk has offices across the United States, Europe, and Asia. For more information, or to request a demonstration of the platform, please visit http://www.thetradedesk.com.
About Hermes Growth Partners
Hermes Growth Partners is a growth equity firm focused on the technology sector globally. We invest in high-potential companies led by exceptional entrepreneurs. Our goal is to help each entrepreneur scale and accelerate the growth of their business to create value. We provide extensive operational experience, in-depth sector knowledge and long-term capital. More information is available at www.hermesgrowthpartners.com.
About IA Ventures
IA Ventures is an early-stage venture capital firm that invests in companies creating competitive advantage through data. We believe that using data as a core asset will drive innovation in everything from storage and processing infrastructure to analytics to data-driven products and services. With that in mind, we focus on businesses that use cutting-edge technology to manage and extract value from today's massive, occasionally unstructured, often real-time datasets. For more information, please visit http://www.iaventures.com/