Magnetic, a New York City-based digital advertising technology company, raised $25m in equity funding.
The round was led by Edison Partners with participation from Charles River Ventures, ORIX Ventures, the Honeywell pension, Jonathan Kraft, Roger Ehrenberg, and others.
The company intends to use the funds for product innovation.
Magnetic is also merging with MyBuys, a San Mateo, CA-based provider of a multi-channel marketing and personalization platform. The united company will offer a solution for marketers to prospect, acquire, convert and reactivate customers across a variety of channels, including display, email, on-site, and mobile, all in real time.
The combined entity will operate under Magnetic’s name, and will be led by James Green, Magnetic’s CEO. MyBuys CEO Rita Brogley will join the Magnetic Board of Directors.
The new Magnetic will have $100 million in revenue and a global presence of 700 customers.