Matchbin has received $22m in debt and equity financing.
The company’s $10m first equity round was led by Level Equity, with participation from Greycroft Partners and vSpring Capital. Simultaneously, Matchbin closed a $12m credit facility with Silicon Valley Bank to acquire NAVTEQ Media Solution’s Radio and Television Group.
The new combined company, named Radiate Media, provides critical localized content, digital content management solutions and an advertising platform to over 6,000 local and national advertisers through its growing network of over 2,000 radio, TV and print partners.
Chris Rothey, who founded and took Traffic.com public before being acquired by NAVTEQ in 2007, has joined Radiate Media as CEO.
The company has over 230 employees in Malvern, Pa., Salt Lake City, Utah, and other offices across the United States.ù