NEW YORK — An advertising technology business providing media buying and media accounting products via a cloud-based SaaS platform has completed a series D financing initiative.
Led by data and analytics firm Ascential plc, the financial fundraiser provides up to $63.5 million in Hudson MX funding.
“The marketing industry’s need for a next-generation SaaS platform to enable proactive management of media planning, buying and accounting has never been at a more critical stage,” notes Hudson MX CEO JT Batson. “We designed the Hudson MX platform to provide real-time management of greater business complexity to keep up with the major drive in digital media purchasing. With Ascential’s intricate knowledge of the agency ecosystem and delivering solutions at scale, our collaboration with Duncan and his team will play an invaluable role in our future success. We are honored by their continued faith in us and we look forward to growing with them in 2021.”
Ascential CEO Duncan Painter added, “As a company that has successfully created and built next-generation digital platforms across Digital Commerce, Product Design and Marketing, Ascential is proud to deepen our relationship with Hudson MX as they continue to scale their impressive system built on next-generation, cloud-based technology that will enable clients to transform their service and business impact.”
Proceeds from Ascential’s prior investment have, in its words, “fueled Hudson MX’s product innovation, scaled its service offering, and bolstered support for its rapidly expanding client roster.”
Ascential says its additional commitment will enable Hudson MX “to continue to scale its platform and organizational structure at an accelerated pace that supports the tremendous client demand for its capabilities.”
In addition to the funding, Ascential is providing access to senior team members who have built and scaled their digital platforms to be advisors to Hudson MX, “to further develop the company’s enterprise-level engagement model while concurrently scaling the platform to multiple clients.”
In addition, the advisory team, Ascential says, “will help ensure excellence in ongoing product, engineering, program management and implementation to address clients’ needs with the agility, pace, and rigor required to succeed in the industry’s rapidly evolving and fragmented media ecosystem.”
— With reporting by Adam R Jacobson in Boca Raton, Fla.
