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2014
QUARTERLY NEWSLETTER
In This Issue
Company Summaries
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Venture Capital Market Update
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Dstillery
Dstillery Leads Industry as #1 in Inventory Quality
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Dstillery Named No. 12 on Crains NY Business Best Places to Work in New York City- 2014
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MediaMath
MediaMath Snaps Up Second Acquisition in a Month
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MediaMath Expands Mobile Ad Offering Through Apple iAd Integration
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MediaMath Unveils TerminalOne App Featuring Nielsen Online Campaign Ratings Data
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MediaMath and Integral Ad Science Join Forces to Improve Advertising Performance and
Drive Marketer ROI
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MediaMath Expands Global Operations with New Office in Madrid
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Integral Ad Science
Integral Ad Science Forms Strategic Partnership with Yahoo! Japan
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TubeMogul Strikes Deal with Integral Ad Science to improve ad viewability
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Integral Ad Science Hires Dave Marquard, Former Googler, IBMer, to Lead Publisher Products
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Forbes: Americas Most Promising Companies
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Skyword
Skyword Is On Fire - News Hub Names Skyword One of Hottest Companies in Boston
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Localytics
Former Constant Contact Executive Joins Localytics as Chief Marketing Officer
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Pixability
Pixability and L2 Measure Luxury Fashion Brands YouTube Competency in Joint Study
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Qualia
Qualia Partners with Places to Prove That Mobile Campaigns Influence Consumers Path to Purchase
In The Physical World
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Qualia Recognized by SmartCEO and Stevie Awards for Innovation and Growth
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Qualia Named Finalist for Red Herring 100 Global Awards
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CraveLabs
CraveLabs and Promoboxx Partner to Deliver Targeted Hyperlocal Mobile Advertising
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LISNR
Our picks for Cincinnati startups to watch in 2015
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Dear Friends,
Progress Ventures (PV) portfolio companies have benefitted greatly from a rising tide of venture capital activity, particularly within the digital
marketing sector, over the course of 2014. We have summarized some accomplishments by each company, provided our thoughts on current
trends in the venture capital market, and gathered a relevant collection of media coverage in the pages that follow.
Fund 1
Dstillery ranked No. 1 in inventory quality due to its commitment to protect audiences from digital advertising fraud. The company was
also named No. 12 on Crains NY Best Places to Work in New York City.
MediaMath integrated its services with Apples iAd platform, giving marketers access to over 250,000 apps on Apple devices, and has
partnered with Integral Ad Science in an effort to improve media quality and effectiveness. MediaMath also released a new T1 app,
which provides marketers with access to Nielsons Online Campaign Ratings data. The company acquired Rare Crowds, a programmatic
ad tech vendor, in late 2014 and opened a new office in Madrid in early 2015.
Integral Ad Science formed partnerships with Yahoo! JAPAN and TubeMogul, and was ranked No. 15 in Forbes 2015 List of
Fund 2
Skyword was named one of Bostons 50 Hottest Companies for 2014 by BostInno.
Simpli.fi is now integrated with 14 significant exchanges across mobile, video, and display inventories. Its focus remained on servicing
local programmatic media buyers during 2014, and anticipates its growth trends to continue into 2015.
Localytics announced former Constant Contact VP Josh Todd as Chief Marketing Officer, and reported record numbers of engaged
Trust Metrics announced the transition of CEO Andrew Lerner out of the company and the addition of Jeremy Davis as new CEO. The
company continues to perform well, posting revenues and profit aligned with last years forecasting.
Pixability partnered with L2 to measure the YouTube competency of luxury fashion brands.
Qualia partnered with Placed to better understand consumers path-to-purchase. Qualia received recognition in the Red Herring 100
Global Awards, SmartCEO Future 50 Awards, and Stevie Awards for Women in Business.
Fund 3
CraveLabs and Promoboxx have partnered to deliver targeted, hyperlocal mobile ads using integrated techology.
LISNR was named a Cincinnati startup to watch in 2015 by the Cincinnati Business Courier.
Nick MacShane
General Partner
nick@progressventures.com
Sam Thompson
General Partner
sam@progressventures.com
| October 9, 2014
http://mwne.ws/1oCjF8Z
Science (IAS) and White Ops. The report revealed that Dstillery
continues to significantly outperform the industry in inventory
exchange ecosystem in rooting out the bad stuff and buying only
the best impressions for our marketers, said Tom Phillips, CEO of
Dstillery. While we are not surprised by the results, we welcome
the ongoing validation from IAS and White Ops as they are the
in Crains New York Business print edition Monday, Dec. 8. The data
comparison, industry data from the IAS Q2 Report shows that direct
Work in New York City, appeared on Crains New York Business website
all of the players take a stand and take action, said White Ops CEO,
| December 8, 2014
http://mwne.ws/1yIPM9F
Companies from across the city entered the two-part survey process
to determine the Best Places to Work in New York City. The first part
(25% of the ranking) consisted of evaluating each nominated companys
workplace policies, practices, philosophy, systems and demographics.
The second part (75% of the ranking) involved an employee survey to
measure the employee experience. The combined scores determined
Dstillery was recently named as one of the Best Places to Work in New
York City. Crains New York Business, the Human Resource Association
of New York, the Society of Human Resource Management and Best
Companies Group created this seventh annual program.
This survey and awards program was designed to identify, recognize
and honor the best employers in New York City, benefiting the citys
economy, workforce and businesses.
This years list is comprised of 100 companies, up from 75 in 2013.
Recognized as one of the top technology companies among the 34
featured in 2014, this is the third consecutive year Dstillery has made
the list.
Crains New York Business reported, published and promoted the
http://prn.to/1Db5vh3
digital ecosystem.
For more information, visit http://www.mediamath.com
investment.
L.L. Bean, one of the first businesses to leverage iAd via MediaMath,
The rich targeting data, expansive reach across mobile devices, and
high-impact ad units allows us to further engage our target audiences
buying with the addition of our granular and dynamic scores of media
inventory.
| December 2, 2014
http://prn.to/1Db75j2
By Laura Bracher, Published in M&M Global
http://bit.ly/1Db5SIr
provide marketers with greater insight into the efficacy and reach of
MediaMath.
For additional information about the app, please visit the OPEN
App Marketplace.
Nielsen has been a trusted source for marketers for decades and with
Online Campaign Ratings, they are setting a new industry standard for
digital marketing, said Greg Williams, Co-Founder and SVP OPEN
Partnerships of MediaMath. By aligning with them to enable access
to Nielsen Online Campaign Ratings data through the MediaMath T1
app, were not only simplifying campaign measurement, but ensuring
greater consistency in how marketers measure, evaluate, and optimize
marketing performance.
The MediaMath app also enables marketers to consolidate their
workflow into one platform. Users can seamlessly tag their creative
and generate Nielsen Online Campaign Ratings reports from a
centralized location, eliminating the need to toggle back and forth
between two systems.
We aim to offer flexibility and choice by making Online Campaign
Ratings available through a number of ad platforms, said Andrew
Feigenson, Managing Director, Digital, Nielsen. Were pleased to
continue working with MediaMath to provide the market solutions
that help advertisers better reach their key customers.
MediaMath will continue to expand its relationship with Nielsen, with
plans to offer its Online Brand Effect (OBE) optimization solution,
as well as open up access to standard and custom syndicated data
segments through Nielsen Audience Measurement Segments, offering
both syndicated and custom precision marketing solutions.
http://prn.to/1Db5vh3
buying with the addition of our granular and dynamic scores of media
inventory.
Jose Luis Valdivielso, COO at Affiperf Spain and Latam, commented,
MediaMaths expansion is testament to the growth of the Spanish
http://prn.to/1Db7IZJ
http://bit.ly/1CsfH6z
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advertisers to verify that they are placing ads on quality media and
given the need in the Japanese marketplace for this technology and
safety technology.
http://bit.ly/1xYWsfO
http://bit.ly/1yVon4s
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http://bit.ly/18kwiy8
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| December 8, 2014
http://bit.ly/1xZ1CbH
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http://bit.ly/103zcD0
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for LogMeIn, Lou led the team and vision that turned join.me into the
worlds leading collaboration tool and the companys fastest growing
Media and entertainment apps performed the best for overall app
product. For Localytics, he will define and drive the companys product
year.
Travel and leisure apps experienced the biggest increase in the volume
Josh, Lou, Craig and Justin represent the best talent in the market.
per month, on a par with Q3. By contrast, games apps had the lowest
close 2014 and plan for another year of rapid growth, said Aggarwal.
employees and now has 150 total employees globally. Localytics has
http://bit.ly/18pwyfq
The percentage of engaged app users those who use the same app
10+ times in a month soared from 25 percent in Q3 to an all-time
high of 30 percent in December 2014, according to the Localytics Q4
App Stickiness Index. But user retention the percentage of users
returning to an app within a three-month window declined, ending
the year at 12 percent, as some people abandoned apps when switching
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http://bit.ly/1yJ3toT
effectiveness.
For more information, visit http://www.pixability.com/
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http://bit.ly/1Cv68nB
intent, Qualia clients can now benefit from understanding the actions
panelists, Placed has the most complete view of where people go in the
physical world and offers marketers the ability to directly tie mobile
in-store visit.
Francisco.
For additional information, visit www.qualia-media.com.
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QSRs, etc. This is the holy-grail of all marketing, and for the first time
and market leadership. Over the past few years, Qualia was named:
| November 3, 2014
http://bit.ly/1Cv7ChE
Qualia a pioneer and leader in discovering and delivering on
consumers ever-evolving, real-time expressions of intent has been
| November 6, 2014
The shifts in consumers online behavior and the rapid pace in which
http://bit.ly/1H6wnFg
intent signals to discover new audiences that could not be reached via
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http://bit.ly/1p1rRjl
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Written by Andy Brownfield, Published in Cincinnati Business Reporter | Dec. 31, 2014
http://bit.ly/1yZbiaq (exerpt)
But all of those groups exist to support one thing: startups. There are
a lot of young companies doing good things in Cincinnati, and this
list is by no means comprehensive, but here are some startups worth
keeping an eye on in 2015. Heres my list:
Lisnr is another startup that raised big money in 2014 $3.5 million
in a Series A round led by Progress Ventures and joined by CincyTech.
The company embeds inaudible tones in music that unlock special
content when heard by a compatible device. But CEO Rodney Williams
said there is much more that the technology is capable of. It could turn
into a whole new way of transmitting data between devices. Thats why
it joined a program run by Techstars and advertising agency R/GA in
2014.
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B o s t o n O f f i c e : O n e B r o a d w a y, 1 4 t h F l o o r, C a m b r i d g e , M A 0 2 1 4 2 , P h o n e : ( 6 1 7 ) 4 0 1 - 2 7 0 0
Ne w York O f f i c e : 2 4 5 Park Ave nu e, 2 7t h Flo or, Ne w York, NY 10167, Phone: (212) 6 0 9 -6 9 1 4
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