In US, Spongecell Raises $10.5 Million to Bring Creative and Media Closer Together

Kelly Liyakasa, AdExchanger, October 31st, 2016 - Tailoring individual messages to someone based on past behavior is easier said than done, since media and creative usually operate independently.

Spongecell wants to fix some of the issues stymying dynamic creative optimization (DCO) at scale in the programmatic space, and has raised a $10.5 million growth round in combined debt and equity financing from Safeguard Scientifics and Pivotal Capital, to help it do so.

The funds will go toward research and development, product engineering and increasing the penetration of its self-serve platform among agencies and brands, according to Spongecell CEO Ben Kartzman [pictured].

“You see [instances where] brands have access to CRM, but it’s not hooked up to a DMP and they’re still sending all of their customers the same creative,” Kartzman said. Spongecell is a member of an IAB working group to develop a DCO ad standard. More…