NEW YORK--(BUSINESS WIRE)--Content data platform SimpleReach today announced it has closed $13.3 million in funding since its last disclosed raise, bringing its total funding to $24 million. The latest round, comprising $9 million, was led by New York-based Spring Mountain Capital. The funding will be used to accelerate the company’s growth. The company also announced today that it has named Hal Muchnick its new Chief Executive Officer. SimpleReach founder Edward Kim, who has served as CEO since the company’s founding in 2010, will become Executive Chairman.
“We are excited to work with the SimpleReach team as it further solidifies its position as the standard for content measurement and predictive insights,” said Jamie Weston, a Managing Director of Spring Mountain Capital who has joined the Board of SimpleReach. “We look to invest in companies that can be a foundational layer in a massive market. SimpleReach is clearly positioned to be such a company for content marketing.”
SimpleReach is the market leader in powering the measurement and insights for publishers’ branded content programs, including those by The New York Times, Condé Nast, and Time Inc. As content marketing has become one of the key strategies for Fortune 500 companies, SimpleReach has expanded its offering to become the first content data platform. SimpleReach collects, verifies, normalizes and benchmarks content data to provide marketers with actionable, real-time insights, and today works with brands such as Chase, Intel and Accenture.
SimpleReach has named Hal Muchnick CEO to lead the next phase of the company’s growth. Mr. Muchnick, who joined the company and served as President since October 2016, will assume the role from Edward Kim, who will serve as Executive Chairman. Mr. Muchnick has over 25 years of operational experience in data, advertising and marketing technology companies, having held senior positions at Kontera, Operative, DoubleClick and Experian. Prior to joining SimpleReach, he led the successful turnaround of global audience data company AddThis, resulting in its sale to Oracle in 2016 for $175 million. Mr. Muchnick joined SimpleReach's Board of Directors in June 2016.
“I’m excited to be leading SimpleReach alongside Edward Kim as we help define the future of content marketing,” said Mr. Muchnick. “I’ve spent my career in this industry and we are clearly in a time of significant disruption. The nature of marketing and advertising is evolving and content is at the forefront of this sea change. The universal problem of any marketer will be having access to the content data and insights necessary to make sense of it all. I joined SimpleReach because there is no company better positioned to address this tremendous need and opportunity.”
"Hal has done an incredible job as President over the last seven months helping prepare for our future,” said Edward Kim. “Having him take on the role of CEO is a testament to what he's done and what I believe he will continue to do. We are entering an era of maturity in the content marketing landscape. Tried and true leadership will ensure we realize the value of the foundation that SimpleReach has built.”
SimpleReach has also named Joshua Silberstein its new President. Josh founded Healthguru Media, which was acquired by Kitara Media in 2013, where he stayed on as that company's President. In his role as President there, Mr. Silberstein helped Kitara Media raise over $100 million in capital and completed a transformative reverse merger. Mr. Silberstein has also worked as a venture capitalist and held senior operating roles in sales, finance, and operations.
SimpleReach is the leading content data platform. As content has become a key marketing strategy for Fortune 500 companies, data and insights are more important than ever to ensure successful investments. Today's top marketers use SimpleReach to unify their data from fragmented sites and channels in order to surface actionable insights that drive content ROI. Our partners include brands like Chase, Intel, and Accenture, as well as branded content publishers like The New York Times, Condé Nast, and Time Inc. Learn more at www.simplereach.com.
About Spring Mountain Capital
Founded in 2001 by John L. (“Launny”) Steffens and located in New York City, Spring Mountain Capital, LP ("SMC") is a private investment management firm that focuses on alternative asset investing. SMC's Private Equity Group provides expansion stage capital to lower middle market companies that are capitalizing on breakthrough innovations, paradigm shifts, or fundamental market or behavioral changes. The Private Equity Group at SMC focuses on two sectors of the U.S. economy with the most change and highest growth potential: technology-enabled and healthcare businesses. Within these high growth areas, it seeks to make value investments by capitalizing on market dislocations, information asymmetry, illiquidity, and complexity. For more information, visit: www.springmountaincapital.com.