Silicon Valley Bank Gives Altitude Digital $7M Credit Facility
Altitude Digital, a Denver-based video and display advertising supply-side platform (SSP), on Monday announced it has closed a credit facility deal with Silicon Valley Bank worth $7 million.
It’s the first money Altitude has raised since it landed $5 million from Mercato Partners in December 2012.
Since the 2012 funding, the company claims it has doubled in size and maintained profitability. With the new line of credit from Silicon Valley Bank, Altitude plans to nearly double its headcount again.
In addition to hiring new employees, the company will use the money to invest more in its video ad platform for publishers, according to Jeremy Ostermiller, CEO and founder of Altitude.