Digital Ad Tech Company Magnetic Merges with MyBuys
Digital advertising technology company, Magnetic announced today that it is merging with MyBuys, the leader in multi-channel marketing and personalization. The united company will enable marketers to better connect with people by creating a single, comprehensive view of their purchase journey across devices, channels, and buying stages.
Magnetic’s platform collects search and purchase intent signals from in-market shoppers on hundreds of thousands of sites. MyBuys leverages deep knowledge of consumers’ online and offline purchases and shopping behaviors to deliver personalization solutions. This unique combination helps marketers prospect, acquire, convert and reactivate customers across a variety of channels, including display, email, on-site, and mobile, all on a single platform and 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 footprint of 700 customers.
“Our unified strengths help marketers transform the way they connect with their customers,” said James Green, CEO of Magnetic. “Marketing automation and programmatic buying are two essential yet separate elements of every brand’s marketing strategy. We constantly hear from marketers that there are too many point solutions. Our merged product suite frees marketers from such traditional silos by bringing them together under one roof. It’s super exciting to be at the forefront of such a dramatic shift.”
Rita Brogley, CEO and President of MyBuys added, “Very few companies benefit from such an exceptional set of data and technology assets. But what sets us apart is having talented and passionate teams that are focused on delivering results for our clients. Together we have the opportunity to reshape the way marketers engage with people everywhere they shop, and at every stage of the customer journey.”
Magnetic also announced that it raised a $25 million round of equity funding led by Edison Partners with the participation from Charles River Ventures, ORIX Ventures, the Honeywell pension, Jonathan Kraft, Roger Ehrenberg, and others. The new investments will turbocharge Magnetic’s product innovations.
Internet Retailer has named MyBuys the number one personalization provider for the past six years, and Forbes named Magnetic one of “America’s Most Promising Companies” in 2015.