Madhive Announces Strategic Investment From Goldman Sachs
This morning, Madhive announced a $300 million investment from Goldman Sachs Asset Management (“GSAM”). This new partnership is a pivotal moment in Madhive’s history and one that reflects the several years of hard work and dedication to lead the local TV industry's expansion from linear TV advertising to streaming.
We are thrilled to have Goldman as our partner as we execute on our business plan in full. This union was conceived several months ago with a fervor to accelerate the adoption of our CTV platform across the local and national advertising markets.
In 2016, Madhive was founded to bring a more modern and intuitive technology platform to the $360 billion digital advertising industry. Our co-founders Adam Helfgott and Tom Bollich, serial entrepreneurs from far outside of the ad tech industry, found a market fit with a more efficient and streamlined enterprise software platform targeting the nascent CTV industry.
Initially we focused on broadcast groups to extend their local advertisers reach to streaming TV audiences. Our entrenched relationships with Tegna, Fox, and Scripps enabled our robust technology growth. They are each strategic partners that utilize our infrastructure to develop and scale their advanced streaming advertising platforms.
Today, Madhive is trafficking hundreds of millions of dollars in media across 20,000 campaigns on a daily basis. Our self-service, full-stack platform is completely configurable and has tools for a full campaign life cycle including planning, targeting, activating, and measuring programmatic TV campaigns. We have seen revenue surge 75% since 2020 and continue to be humbled and inspired by the industry veterans that have opted to join us including Kristin Wnuk, SVP of Sales; Brenda Salce-Garcia, Head of Client Success; Darien Ford, CTO; and Jon Kaplan, CRO.
Madhive has a culture dedicated to improving existing solutions and providing high quality white glove service to enterprises. Our technology is intended to simplify CTV and empower our clients to reach new audiences across the digital ecosystem. As we scale, we’ll focus on partnering with our existing clients to further innovate while accelerating our product solutions across adjacent categories including national brands, DTC advertisers, and retail media networks.
In concert with our new GSAM partnership, my partner and dear friend, Adam Helfgott, has chosen to become our Executive Chairman of the Board. As a result, he has graciously asked that I take on the CEO role to further serve Madhive. I have accepted this honor.
There are no words to fully describe our gratitude to Adam for his tireless leadership, vision and innovation to bring us to this moment. Please know Adam and I will continue to work closely together on strategic initiatives.
Lastly, it is our dedicated team and partners since inception that have been a tremendous source of inspiration, propelling us to this stage. It takes a fearless village to accomplish such milestones, and I am honored beyond words to walk this path together!