US-based marketing and analytics technology provider Unified raised $30m yesterday in a series B round led by mass media corporation iHeartMedia that also featured publishing conglomerate Advance Publications.
Venture capital firms Upfront Ventures and Foundry Group also contributed to the round, while Silicon Valley Bank (SVB) provided an additional $10m in debt financing.
Unified operates a real-time marketing platform equipped with social media advertising, analytics software and engagement tools. The company will use the money to continue development of its platform, increase its sales efforts and expand into new markets.
The commitment of iHeartMedia follows a partnership agreement inked in June 2015 that will give Unified’s clients deeper insight into iHeartMedia’s audiences. The agreement included an investment, though it has not been revealed if this was made separately to the series B round.
Advance Publications previously led Unified’s $10m series A round in 2012, closed alongside $4m in debt ffrom SVB. Unified also secured $113,000 in 2013, according to a regulatory filing.