MediaGamma, a London, UK-based automated futures and options exchange for digital advertising, closed a seed round of funding.
Backers included UCL Business PLC and a syndicate of tech-sector focused angel investors (led by Jonathan Gittos) from both advertising technology and finance backgrounds.
The amount of the deal was not disclosed. This increases MediaGamma’s £200k in grants from the UK government’s Innovate UK grant programme. Accelerate Cambridge has also provided early support to the venture.
Led by Rael Cline, Co-founder and CEO, and Dr Jun Wang, Co-founder and CTO, MediaGamma offers the ability for buyers and sellers to agree on a price and volume for future real-time media placements across multiple digital channels. The platform is currently being piloted with a number of participants.
Customers include brands, agencies, and publishers.
Some of the company’s other early backers and board members include John Taysom, CEO and Founder of the Greenhouse Fund and RVC (originally Reuters Venture Capital) and angel investor, and Angus Bankes, Founder and CTO of Moreover Technologies (sold to Verisign) and current CIO of Skimlinks.