ChoiceStream Receives First Funding Since Switch To DSP Model, Raises $7.5M

ChoiceStream, a demand-side platform (DSP) for programmatic advertising, on Monday announced it has closed a $7.5 million Series B round of funding. The round was led by New York-based Fred Alger Management.

Eric Bosco, the company’s CEO, declined to comment on past rounds of funding, but did tell Real-Time Daily that a CrunchBase figure saying ChoiceStream has raised $78.3 million in funding is inaccurate.

The new financing is significant for ChoiceStream because it is the first round the company has had since it pivoted to become a pure-play DSP in 2011. Prior to 2011, the company positioned itself as a “product recommendation company.” 

Bosco said the funding will be used to expand sales efforts into new regions and less developed marketers. “We will be invested in our strategy to provide a programmatic solution for every phase of a campaign -- planning, creative, media and analysis,” he added. “This means further development of survey-based measurement and planning, and investment in tightly integrated dynamic ads.” He shared that one other area of development focus will be announced in early August.

Recommend (6) Print RSS
All content published by MediaPost is determined by our editors 100% in the interest of our readers ... independent of advertising, sponsorships or other considerations.