Daily News: January 14, 2013

SVB, Mercato Provide Financing to Altitude Digital

Altitude Digital secured $5 million of growth capital from Mercato Partners alongside a new credit facility from Silicon Valley Bank. This capital will be used for key marketing initiatives, new customer acquisition and expanding the company’s technology platforms.

Mercato investment team members Alison Wistner and Greg Warnock will join the company’s board of directors. Altitude Digital joins Mercato’s portfolio of investments.

“We chose Mercato because of their unique capabilities and experience with market-leading companies and accelerated growth,” stated Jeremy Ostermiller, CEO of Altitude Digital. “Mercato understands our business, processes, strategy and unique technology and they bring valuable perspective to our business. We couldn’t be more pleased about this partnership.”

With the $5 million investment, Altitude Digital will be able to optimize ad space and operations for online publishers while reaching new, untapped target markets.

“Altitude Digital has rapidly and efficiently grown their business while building a technology platform that maximizes publisher advertising revenue,” commented Alison Wistner, director at Mercato Partners. “Altitude has a proven track record of execution and is well positioned to lead the industry in online video advertising.”

Altitude Digital is a producer of online display and video advertising technology.

Mercato Partners invests growth capital in technology, branded consumer and digital media companies.