Metamarkets Closes $14.25 Million In Credit Loan

Metamarkets, a provider of interactive analytics for programmatic marketing, on Tuesday said it has closed a $14.25 million credit facility with Wellington Financial LP and City National Bank. Metamarkets said the capital infusion will help it expand its engineering team and invest more in real-time data-processing infrastructure.

“This capital will be directly invested in expanding the team and technology behind our real-time data processing infrastructure, which handles 100 times as many transactions each day as the New York Stock Exchange,” stated Mike Driscoll, CEO of Metamarkets.

“With an expanding client base in a growing market, recurring revenue streams, and unique technology assets, Metamarkets is an ideal candidate for this credit facility,” stated Ash Vaidya, Partner at Wellington Financial.

The financing agreements with Wellington Financial and City National Bank expand on the support of Metamarkets from its existing investors, including Khosla Ventures, Data Collective, IA Ventures, Village Ventures, True Ventures and Founder Collective.

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This summer, Metamarkets announced the general availability of its Metamarkets API that enables clients to directly pull data into their own systems and seamlessly build web applications directly on Metamarkets' infrastructure. The company also made key hires recently: Casey Steele was named vice president of sales & client services, and Nhan Phan, vice president of engineering.

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