Altitude Digital lines up $17.5M for publisher video-ad platform

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A Denver-based online-video-advertising technology company — says it has secured $17.5 million in financing to back its new Altitude Arena platform for online publishers. The new commitment — a mix of equity and debt financing — comes from Multiplier Capital and Bridge Bank, a division of…

Altitude Digital — a Denver-based online-video-advertising technology company — says it has secured $17.5 million in financing to back its new Altitude Arena platform for online publishers.

The new commitment — a mix of equity and debt financing — comes from Multiplier Capital and Bridge Bank, a division of Western Alliance Bank.

Altitude said it will use the financing "to fund the further expansion of the (Arena) platform and increase publisher adoption of the technology."

Altitude Arena ( website here) is a so-called "supply-side platform" that helps digital publishers manage their inventory of mobile and desktop video ads, sidestepping middlemen connecting them with advertisers.

“Investment in the advertiser side of the business has significantly outpaced investment on the publisher side. Altitude Digital is finally giving publishers the tools to be independent and less reliant on margin takers and intermediaries,” said Jeremy Ostermiller, Altitude Digital's CEO.

As the DBJ's Greg Avery reported, Altitude Digital a year ago arranged $30 million in convertible debt from FastPay Partners for expansion. The company was launched in 2009.

“Our competitors are the Googles and Microsofts of the world, but we move more quickly and nimbly than they do,” Ostermiller told the DBJ last June. "We can turn something around in a couple of weeks, where bigger competitors are taking years.”

Mark Harden directs print and digital news content for the Denver Business Journal, contributes to the "17th & Lincoln" blog and compiles the daily "Afternoon Edition" email. Email: mharden@bizjournals.com. Phone: 303-803-9227.

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