Centerfield, an ad-tech firm that identifies customer intent to implement real-time biddable media spend, on Tuesday said it’s acquiring Qology Direct, a performance-based marketing firm. The acquisition is supported by $156 million in financing, part of which will also be used to fund future acquisitions. This funding round marks Centerfield’s second; prior to this round it received $100 million from H.I.G. Growth Partners.
Centerfield will also use the funds to expand its front-to-backend customer acquisition, retention, and conversion platform for large brand marketers that include existing customers ADT, AT&T, Comcast, Spectrum, Sprint, Verizon, Vivint, and Vonage.
Centerfield uses a proprietary technology platform to optimize customer acquisition by identifying high value and intent-driven consumers at scale across a variety of digital media platforms including search, display and social. By combining with Qology Direct, Centerfield will be able to offer a fully integrated sales and marketing solution to engage consumers from initial touch points all the way through a completed sale.
“Bringing Centerfield together with Qology Direct is a multibillion-dollar market opportunity that delivers greater accountability and increases return on ad spend by enabling brands to more effectively identify, reach, cultivate, care for and convert customers,” stated Centerfield Co-President and Co-Founder Jason Cohen.
The combined company will operate under the Centerfield name and expects to generate over 2,000,000 customer sales for clients. Institutional investors in the business include H.I.G. Growth Partners, the dedicated growth capital investment affiliate of H.I.G. Capital and Falcon Investment Advisors, and new partners East West Bank and Prospect Capital.