Centro Raises $30 Million Series B Round from Neuberger Berman Private Equity Funds
CHICAGO – May 20, 2015 – Centro (www.centro.net), a provider of enterprise-class software for digital advertising, today announced a $30 million Series B investment by Neuberger Berman Private Equity Funds. Neuberger Berman Private Equity Funds have invested in Centro as its first direct private stake in an advertising technology company. It joins Centro’s existing investor FTV Capital, which led the company’s 2010 Series A round of $22.5 million.
Centro’s Series A investment has fueled its rise as one of the few companies in ad tech to achieve large scale, high growth and profitability on an adjusted EBITDA basis. Centro differentiated itself in the market by pioneering automated guaranteed ad buying on digital media, and then expanded with real-time bidding technology. Its platform is projected to manage more than $400 million in digital ad spend this year and is used by 2,500 customers to automate nearly 200,000 campaigns. With more than 600 employees in 32 offices across North America, Centro is delivering a platform that centralizes, organizes and automates all digital media buying on all devices, channels and inventory.
“Centro presented us with a unique opportunity to be part of market transformation through a truly differentiated advertising technology solution that already has enormous scale in the sector,” said Michael Kramer, Managing Director at Neuberger Berman. “Centro’s vision in digital media, combined with its track record and disciplined business model led us to make a sizable private investment in the marketing technology industry.”
The new investment from Neuberger Berman Private Equity Funds will help Centro:
- Accelerate the development and expand the adoption of Centro’s technology by adding more software development, product development, and sales talent
- Acquire complementary technology in digital media such as programmatic direct, supply-side yield management, video, data management, ad security and others
- Continue expansion into global markets
For the past 14 years, Centro’s software platform has established it as the partner of choice for automating guaranteed media-buying. Recently, it launched a cross-channel programmatic ad buying platform with capabilities for precise mobile targeting. It also operates a private exchange for premium publishers.
“Neuberger Berman Private Equity Funds’ investment supports Centro’s vision of unifying the complex and disparate advertising technology landscape,” said Shawn Riegsecker, CEO and founder of Centro. “We’ve been one of the most competitive ad technology providers in the industry, and we are now in a more formidable position to continue to consolidate and simplify digital advertising technology.”
Centro (www.centro.net) is creating a platform to make digital advertising easier. Its enterprise-class software centralizes, organizes and automates all digital media campaigns across all channels, accessing both guaranteed and biddable inventory, to achieve any objective. Our holistic approach gives marketers a single system of record to fulfill their research, planning, buying, optimization, reporting and reconciliation needs. Since 2001, Centro has successfully planned and executed nearly 200,000 campaigns across all digital display platforms and ad format types. Headquartered in Chicago with 32 offices in North America, Centro has received numerous accolades for its commitment to employees and workplace culture.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 18 countries, Neuberger Berman’s team is more than 2,100 professionals and the company was named by Pensions & Investments as a 2013 and 2014 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $251 billion in client assets as of March 31, 2015. For more information, please visit Neuberger Berman’s website at www.nb.com.
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