Hudson MX, a US-based developer of media purchasing and accounting software, raised $63.5m on Wednesday in a series D round led by data and analytics provider Ascential.
Founded in 2016, Hudson MX provides an advertising software platform used by enterprise customers to manage digital media planning, buying and accounting activities.
The company’s flagship product BuyerAssist, has been used by 27 of the leading media agencies in the US and serviced more than 200 advertisers across the country.
The funding will go towards accelerating the growth of Hudson MX’s platform and organisational structure. Alongside its investment, Ascential is also offering the company access to its senior team members to serve as advisors.
JT Batson, Hudson MX’s chief executive, said: “The marketing industry’s need for a next-generation SaaS platform to enable proactive management of media planning, buying and accounting has never been at a more critical stage.
“We designed the Hudson MX platform to provide real-time management of greater business complexity to keep up with the major drive in digital media purchasing.”
Hudson MX has raised at least $73.5m of funding to date, Ascential having previously provided $10m in February 2020. Venture capital firm MathCapital also lists it as a portfolio company on its website.