NEW YORK CITY, Sept. 10, 2015 (GLOBE NEWSWIRE) -- Unified, an award-winning marketing and analytics technology company, today announced a $30 million Series B financing led by iHeartMedia with participation by Advance Publications, Upfront Ventures, and Foundry Group. Funds from the financing will be used to accelerate the ongoing development of Unified's data platform and software applications, for sales expansion, and to enter new markets. In addition, Unified is increasing its credit facility provided by Silicon Valley Bank to $10 million.
"Unified's success has been driven by an incredible team, a unique vision for the new era of marketing, and a world-class roster of customers and partners," said Sheldon Owen, CEO and co-founder, Unified. "This latest round of funding will fuel our next stage of growth as we continue to deliver software that drives CMOs' success."
Market Success Attracts Leaders From Investor Community
The Series B financing comes as Unified continues to secure Fortune 500 customers in the automotive, consumer packaged goods, consumer technology, entertainment, financial services, and software industries.
"Data-driven marketing is a top priority for today's CMO, and Unified's software and data platform are revolutionizing the way that marketers truly use data to drive success," said Bob Pittman, Chairman and CEO of iHeartMedia, Inc. "We're thrilled to help accelerate their rapid growth."
"Since the company's founding, Unified has been delivering professional marketers the data, tools, and technology they need to optimize their marketing spend," said Andrew Siegel, Executive Vice President, Advance Publications and Chairman of its investment arm, AV Partners. "We are excited to continue backing Unified's innovation as it applies data science to the marketing stack to deliver quantifiable value to its customers."
Investment To Enable Powerful New Products
The proceeds of this financing will be invested primarily in the development of new software products that build on Unified's leadership. The company plans to introduce powerful new tools that will expand its ability to unify marketing data across all consumer touchpoints and marketing channels, connecting the ubiquity of social media with digital and offline channels.
"The marketing landscape is evolving rapidly, with data, technology, social and mobile taking central roles in this transformation," said Calvin Lui, President & Chief Strategy Officer of Unified. "The addition of strong strategic and financial partners underscores the power of Unified's vision and technology. Our software and platform enable CMOs managing billions of dollars of marketing investments to make informed decisions about their audiences, messages, and channels based on real-time signals and advanced analytics."
About Unified
Unified is an award-winning marketing and analytics technology company. Unified provides professional marketers with powerful advertising, data, and intelligence tools built on the industry's most advanced data platform. Unified serves Global 2000 enterprises and advertising agencies from its offices in New York, San Francisco, Los Angeles, and Chicago. For more information, visit www.UnifiedSocial.com.