Exchange Lab raises $8 million in funding
December 05, 2013 | Jeromy Lloyd | Comments
The Exchange Lab, the programmatic media buying solution provider with offices in London, New York and Toronto, has secured $8 million in new funding.
The new funding comes from the U.K.’s Business Growth Fund, an independent company backed by major banks in the U.K. that typically invests between $3 million and $18 million in British businesses in exchange for a minor stake in the company.
According to a statement from Exchange Lab, the funding will “speed up the integration of additional demand-side platforms particularly within video, mobile and social media, as well as expand its already impressive access to premium advertising inventory.”
“BGF’s investment will support the business in its global expansion and accelerate the development of its proprietary programmatic buying technology allowing it to take advantage of a significant growth opportunity, creating value for its shareholders,” said Chris Hodges, investment director at BGF, in a release.
Exchange Lab operates a trading platform called DataLab, allowing clients such as Omnicom and WPP to participate in real-time media buying markets.