MNTN (pronounced ‘mountain’), an ad tech business specialising in connected TV advertising, has completed a funding round led by asset managers BlackRock and Fidelity Management & Research.
This marks one of the biggest investment rounds completed by a CTV ad tech company in recent memory, though MNTN has not disclosed its total valuation following the new funding according to Reuters.
MNTN has been around for a while, though under different guises. The company launched under the brand ‘SteelHouse’ in 2010, providing outcome-focused ad tech which could be used by in-house marketers.
In recent years the company has put more and more focus on CTV, while retaining its specialism in outcome-driven advertising. Nowadays MNTN provides optimisation, targeting, retargeting, and attribution tools for CTV advertising.
The company has built its profile further over the past year through some notable acquisitions. Last June MNTN bought the marketing arm of Maximum Effort, a production company owned by actor Ryan Reynolds and digital marketing vet George Dewey. Both Reynolds and Dewey took on roles in MNTN as part of the deal.
This deal added creative capabilities to MNTN’s offering, meaning brands can work with MNTN even if they don’t have a TV-ready ad yet.
Then earlier this year MNTN acquired QuickFrame, a video creation and insights platform which connects brands with creators. Based on QuickFrame’s tech, MNTN launched a new ‘creative as a subscription’ offering, with the idea being that brands can quickly spin up and optimise new ads through the MNTN platform.
It’s not yet been specified how MNTN plans to use the new funding.
