Since Mercato Partners’ $5M capital investment in 2012, Altitude Digital has more than doubled in size while maintaining profitability. Today, we are happy to announce that we have closed a $7M credit facility from Silicon Valley Bank (SVB). This additional backing will help accelerate Altitude’s growth even further by allowing us to enhance our programmatic platform technologies and grow our publisher and demand partnerships.
“It’s an exciting inflection point for our company,” says CEO and Founder Jeremy Ostermiller. “Our continued partnership with Silicon Valley Bank will help fuel the company’s investment in our proprietary programmatic video platform as we continue to drive unique value for publishing partners and media buyers in the online advertising marketplace.”
According to Ron Singh, Managing Director for Silicon Valley Bank in Denver, Colo., “Altitude Digital represents the type of companies we work with around the world, with innovative technologies, capital efficiency and patterns of high growth. The new financing will give the company additional flexibility to support Altitude Digital’s continued expansion, as the team pursues its growth goals.”
Read the full press release here.