New equity financing means more ways Sovrn can simplify the complexities of the open web to ensure publishers and creators thrive
Today we closed a large round of new equity financing, led by Foundry Group and including Archer Venture Capital, Lexington Partners, and Progress Ventures, among others.
We’ve built a business that solves important problems for our customers. With many thousands of loyal and expanding relationships, Sovrn has reached an interesting scale of revenue, customers, and products available on the Sovrn platform. We are growing rapidly, and profitable.
Simplifying the complexity of the open web
We believe that an open and independent web is a window into anything and everything, offering a view into consumer trends, commerce, entertainment, information and inspiration.
The open web is a mess. Some would say a beautiful mess, but a mess nonetheless. Fantastically fragmented and endlessly engaging, the open web is full of creators who offer interesting ideas, constant inspiration and fresh perspectives. We believe that these authors, journalists, creators, and influencers are what makes the internet truly great.
The business of media is the business of creating and distributing engaging content and then receiving value back from the attention and inspiration that content generates. Yet the media business is unnecessarily, perhaps notoriously, complex. A sea of vendors, brokers, regulations, and shifting sands plague the entire open web from the largest media corporations to the smallest influencers.
In this beautiful mess we see opportunities to make our customers’ lives easier and their businesses better — more understandable, more efficient, and more lucrative.
Where we’ve been, and where we’re heading
Over the past several years we’ve made a number of expansive acquisitions to bring more innovative products and services to the Sovrn platform. These products and resulting insights help our customers better understand their business, make smarter decisions, operate more efficiently, and grow their revenue. We’ve freed up their time to focus on things that matter most.
We believe our customers want and deserve to take back control of their own destiny. We raised a round of fresh capital to keep acquiring great product companies, integrating and innovating these products onto the Sovrn Platform, and, most importantly, simplify the complexities of the open web so that our customers can do more of what they love and less of what they don’t.
To our existing customers: thank you for the trust you place in us daily, and for your partnership in helping us improve our products.
I also want to thank the growing Sovrn team. This raise is a testament to the faith our investors have not just in our products, but also in the people who will lend their talent, time, and passion to building toward our vision.
We believe publishers and creators deserve more — more time to create, more understanding of their audience, to keep more of what they earn, and more freedom to do what they love. Our mission is to help.
