TripleLift, a global advertising technology platform, has signed a definitive agreement to receive a majority investment from Vista Equity Partners. Vista, a global investment firm focused on enterprise software, data and technology-enabled businesses, plans to help drive further innovation across TripleLift and accelerate global growth.
“We have developed into a leader in the advertising technology space and are excited about our next chapter,” said Eric Berry, co-founder and CEO of TripleLift. “When looking for an investment partner, we placed a premium on a deep understanding of ad tech and a willingness to lean into developing our portfolio of innovative, high-growth products. Vista is that partner.”
“TripleLift is a next generation ad tech company that has successfully identified and developed multiple new markets since its inception,” said Michael Fosnaugh, co-head of the Vista flagship fund and senior managing director. “In each case, they have created unique value to an entire ecosystem of companies, including brands, publishers, and partners, and we are thrilled to be working with Eric and the team to further scale their business.”
“Vista is pleased to partner with TripleLift and we have a tremendous runway for growth,” said Rod Aliabadi, managing director at Vista Equity Partners. “We look forward to continued market leadership in programmatic, further catalyzing our opportunity in CTV and building upon our expansion into priority international markets across Europe and Asia.”
Berry will remain as CEO and will continue serving on the board of directors. True Ventures and Edison Partners, two early investors in TripleLift, will remain invested in the company.
Centerview Partners LLC is serving as exclusive financial advisor to TripleLift, and Goodwin Procter LLP and Reitler Kailas and Rosenblatt LLC are serving as legal counsel. JP Morgan is serving as financial advisor to Vista, and Kirkland & Ellis LLP is serving as legal counsel.