Tuesday, November 1, 2011

Radiate Media Raises $22M

Salt Lake City-baseed Radiate Media, a newly formed company which is the combination of Matchbin and the NAVTEQ Broadcast Media Division, said today that it has raised $22M in a first institutional financing. The deal included $10M in equity, led by Level Equity, along with Greycroft Partners and vSpring Capital, along with $12M in a credit facility form Silicon Valley Bank. Financial details of the acquisition of NAVTEQ Broadcast Media by Matchbin was not announced. As part of the funding and acquisition, Chris Rothey, formerly of NAVTEQ/Traffic.com, has become the company's CEO. Radiate Media provides mobile marketing services, performance advertising, and other related services. More information »