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Investment Will Further Accelerate Growth and Drive Expansion of Service Offering and Global Delivery Capabilities
MUMBAI, India, July 27, 2023 /PRNewswire/ -- MediaMint, a leading digital advertising operations service provider, announced today that Everstone Capital and Recognize have made a significant strategic investment in the Company. This marks the first institutional capital for MediaMint, which will help accelerate the company's roadmap as it continues to serve leading digital marketing platforms, publishers, and agencies around the world.
"MediaMint has built a strong foundation focused on delivering high-value outcomes through process excellence and deep domain expertise for our global base of digital marketing clients," said Aditya Vuchi, CEO and co-founder of MediaMint. "Working with Everstone and Recognize will enable us to enhance our global infrastructure to better service our clients with on-shore account management, incremental global delivery centers, and an expanded solution set."
MediaMint, with 2,000 employees across offices in San Francisco, New York, Hyderabad, and Krakow, delivers operational digital marketing support, including ad operations, creative services, and customer services to over 100 global customers including some of the largest and most sophisticated digital marketing platforms, publishers, and agencies in the world. The digital marketing space is projected to grow 13% per year to $670bn in 2030, driven by expanding digital channels and creator platforms, enhanced data capabilities available to businesses and consumers, as well as the rapid rise in people creating digital content. As more businesses enter the digital advertising space, MediaMint is well positioned to help improve advertising performance and reduce the operational cost of setting up digital ad platforms, running ad operations, and iterating on ad creatives.
"MediaMint is a leader in transforming the digital advertising workflows of the largest advertising platforms, publishers and agencies in the world. We look forward to working with the exceptional team at MediaMint to build on their strong base and assist in their next phase of growth, which will include significant global expansion as well as enhancing service line capabilities," said Avnish Mehra, Vice Chairman, Private Equity at Everstone Capital.
"MediaMint is the ideal technology-enabled services company we look for at Recognize," said David Wasserman, Co-Founder and Managing Partner at Recognize. "With its deep domain knowledge and history of delivery excellence, MediaMint is uniquely positioned to capture the wave of digital advertising growth over the next decade."
As part of the process, Rajeev Butani is joining as the Executive Chairman of MediaMint. Rajeev was previously the Senior Managing Director and Group Technology Officer for Accenture's Communications, Media, and Technology Operating Group globally, and also served on Accenture's Global Leadership Committee.
DC Advisory has acted as the sole financial advisor for MediaMint on the transaction.
About MediaMint
MediaMint is the advertising operations partner for some of the leading media and technology companies worldwide. Founded in 2010 by Aditya Vuchi and Neelima Marupuru and led by veterans in the space, the company has leveraged its deep expertise to help their clients scale businesses operations globally. For more information, visit www.mediamint.com.
About Everstone Capital
Singapore-headquartered Everstone Capital, the private equity arm of the Everstone Group (www.everstonegroup.com), is a global firm committed to driving economic growth and creating sustainable value. With seven offices globally (Singapore, Mumbai, Delhi, Gurgaon, New York, Dubai and Mauritius), Everstone Capital focuses on the mid-market with control mindset and growth bias; comprising best of breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com and LinkedIn.
About Recognize
Recognize is a technology investment platform exclusively focused on the technology services industry. The firm provides operational expertise, industry insights and strategic capital to innovative companies in this sector. To learn more, visit www.recognize.com.
