Ad tech firm MediaMath undergoes major reorganization of its exec team as it prepares for 'the next phase'
A number of the company's cofounders have moved into new, more focused roles. Meanwhile, some newer recruits have taken on broader responsibilities.
Here's a summary of the recent changes:
Ari Buchalter, cofounder and president of technology, will become chief advisor
Erich Wasserman, cofounder and chief revenue officer, will become global head of key accounts
Greg Williams, cofounder and SVP of open partnerships, will also now work on key accounts
Will Schobeiri, SVP of technology, has become chief technology officer
Bob Scarperi, SVP of commercial strategy, has become global head of sales and accounts
Jenna Griffith, SVP of revenue operations, has become SVP of professional services
Dan Rosenberg, SVP of business and corporate development, has become chief strategy officer
Jacob Ross, general manager of audience, has become chief product officer
Speaking to Business Insider, MediaMath CEO Zawadzki said the moves are about setting the demand-side platform (DSP) up for the longer term. The company has been shifting from a "managed service" model, where it takes a percentage of clients' campaign spend, to a Saas (software as a service model), where clients pay a fixed monthly fee for its technology, data, and other marketing services.
Zawadzki said "100%" of the company's revenue now comes from these type of contracts. "The next phase" is building the company towards a kind of "triumvirate model", where MediaMath works with both a marketer and their agency on the same campaigns at the same time - as it does with MediaCom and Coca-Cola.
He added: "Agencies continue to be a big part of the business and we are seeing a lot of the triumvirate model where the advertiser is deeply involved in the selection process ... in a lot of cases, brands will select the technology, but the agency will [be the one using] it and working on top if it to do trading."
Zawadzki said the re-organization, which has happened over a period of months, was a reflection of where the market is going, rather than MediaMath being on the end of pressure from its investors. The company has raised $200 million in funding to date from investors including Spring Lake Equity Partners, The European Founders Fund, Safeguard Scientifics, Observatory Capital, Catalyst Investors, and QED Investors.
He said: "We certainly rely on the board and investors for their input and advice - we have a good collaborative board - but we don't have the pressures other companies may experience in the investor timetable ... [our investors have] different time horizons than more traditional VCs that look at investments in four to five year time periods."
Asked about how some executives feel about ceding some of their previous responsibilities in their new roles, Zawadzki said: "We have the good fortune of not having business [newspaper] page issues in terms of tiles and control. People want [MediaMath] to be successful."
A MediaMath spokesperson did not give away numerical figures but told Business Insider the company is profitable and continues to maintain "double digit revenue growth."