Hudson MX, a New York-based provider of the first and only fully cloud-based platform for end-to-end media buying, billing, and paying, today announced a deal that provides substantial new funding to enable its expansion to meet growing market demand.
The round is being led by a new investor, with Ascential plc increasing its minority stake and gaining a route to majority ownership as early as April 2024.
The investment helps scale initial customers, and accelerates the ability to onboard new agencies and advertisers. Ascential plc made a series of investments to enable the build-out of the entire MX Platform™ as well as the onboarding of its initial agency and brand customers.
The company's BuyerAssist™ product was first used by Local media buying teams at the world’s largest advertising holding companies and top U.S. agencies starting in 2018.
The MX Platform™ today, via its BuyerAssist™, FinanceAssist™, and other products, can be configured for each customer to support specific media types and workflows or the entire buying, billing, and paying process for all media types.
“Technology should move at the speed of media—and now finally it can," said Stuart Johnston, Hudson’s new CEO. “Our solution eliminates lags, delays, and rework by cutting out manual data entry and enabling data and information from any source to flow into, out of, and across the platform in real time. Empowering customers to save time, reduce risk, pursue advanced buying strategies, and boost employee morale—goals that have too often been thwarted by technology limitations—is what excites me most about leading the Company in its next phase of audience expansion and financial growth.”
Hudson MX will also benefit from the vision and expertise of a newly appointed board and a bolstered management team. Duncan Painter, CEO of Ascential plc, and Scott Forbes, Chairman of the Ascential plc board of directors, will now serve on the Hudson MX board, working with a veteran leadership team that includes newly appointed CEO Stuart Johnston.
Company: Hudson MX Inc.
Raised: Undisclosed
Round: Unknown
Funding Month: February 2023
Lead Investors: Ascential plc
Additional Investors:
Company Website: https://www.hudsonmx.com/
Software Category: Advertising Software
About the Company: Founded in 2016 with the mission of bringing the technology underpinning the media ecosystem into the 21st Century, Hudson MX is an advertising technology company providing media buying and media accounting solutions through a cloud-based SaaS platform. Its solutions are designed to help teams across today’s ever-evolving media ecosystem bridge vision to results, enabling differentiated strategies, revenue growth, cost savings, and talent advantage. The company’s platform provides a modern, connected technology foundation flexible enough to ensure anywhere, anytime access, and meet your media buying needs. Its flagship BuyerAssist™ product has been used to process billions of dollars of media buys for 27 leading agencies in all 210 U.S. markets, servicing over 200 national advertisers. Hudson MX has 148 full-time employees and over 300 contracted engineers, with headquarters in New York City and Atlanta.
Source: https://www.businesswire.com/news/home/20230207005730/en/