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Press | Operative Team
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Press | Press Release
Represents Consistent Growth of Digital Ad Management Despite Economic Downturn
NEW YORK CITY, December 3, 2008
Operative, a global advertising revenue management (ARM) software and services provider, announced today a $7 million working capital and term debt facility from Silicon Valley Bank, a leading financial institution serving clients in the technology and life sciences industries.
Operative plans to drive the company’s sales of technology and services that streamline the management of online and mobile ad operations of its digital publishing customers and hire talent to expand its presence in key geographical markets, including the U.S. and U.K. Major Operative clients include NBC Universal, National Public Media (includes NPR and PBS), Reuters and Dow Jones among others.
“Operative is a leader in its industry and well positioned to further impact the way publishers manage their ad operations,” said Mike Moretti at Silicon Valley Bank. “Our commitment represents the potential we see in Operative as it helps digital publishers better monetize ad properties, particularly in a such a challenging economy.”
Operative’s flagship ASP-based software platform, Operative Dashboard™, provides customers with end-to-end ad workflow solutions for digital publishers seeking to achieve operationally efficient ad operations. Despite the economic climate, Operative saw its revenue increase and recently announced a major deal with NBC Universal to drive its online ad sales and trafficking for NBC Universal, iVillage and NBCOlympics.com. Additionally, Operative further grew its talent with the recent appointment of Mike Hard as executive vice president of sales and marketing, who recently served as vice president of U.S. Sales for Microsoft Digital Advertising.
“Silicon Valley Bank understands the vital role Operative plays in helping digital publishers manage their online ad operations,” said Mike Leo, president and CEO, Operative. “The capital provided by Silicon Valley Bank will help the company further invest in growth initiatives, boost sales, hone our offerings, cultivate talent and rise above the challenges brought on by the current economic times.”
Established in 2000, Operative is a global organization that provides its clients with technology and services to improve all aspects of their advertising operations lifecycle, from pre-sale to collections, trafficking to reconciliation. Operative Dashboard™, an ASP software solution, is an end-to-end ad management platform that enables media publishers to automate contract management, product packaging and pricing, inventory management, campaign reporting and revenue recognition. Operative’s client base includes The Wall Street Journal, The Economist, MSN, Smart Money, iVillage, NBC Universal, and National Public Media. More information about Operative can be found at http://operative.com.
About Silicon Valley Bank
Silicon Valley Bank is the premier commercial bank for emerging, growth and mature companies in the technology, life science, private equity and premium wine industries. SVB provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients’ success. Founded in 1983 and headquartered in Santa Clara, California, the company serves clients around the world through 27 U.S. offices as well as operations in China, India, Israel and the U.K. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at http://www.svb.com.
Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve. SVB Financial Group is also a member of the Federal Reserve.