NewsNeuberger Berman Private Equity Funds Invests $30 Million in Centro

Centro, which provides enterprise-class software for digital advertising, announced that it had secured $30 million in Series B financing from Neuberger Berman Private Equity Funds.

This is Neuberger Berman Private Equity Funds’ first investment for a direct private stake in an ad tech company. Michael Kramer, Managing Director at Neuberger Berman was cited in this release as saying, “Centro presented us with a unique opportunity to be part of market transformation through a truly differentiated advertising technology solution that already has enormous scale in the sector. Centro’s vision in digital media, combined with its track record and disciplined business model led us to make a sizable private investment in the marketing technology industry.”

Centro is credited with being the pioneer of automated guaranteed ad buying across digital media channels. It then expanded its offerings with real-time bidding technology.

With the new investment, Centro will be equipped to increase and improve product and software development and sales talent. It intends to acquire and deploy complementary technology such as supply-side yield management, programmatic direct, ad security and data management, among others. The company also plans to expand into global markets with the new funds.

“Neuberger Berman Private Equity Funds’ investment supports Centro’s vision of unifying the complex and disparate advertising technology landscape,” said Shawn Riegsecker, CEO and founder of Centro.