H.I.G. Capital News
H.I.G. Growth Partners Announces Significant Investment in Triad Digital Media
Investment Supports Expansion of Leading Provider of E-commerce Digital Advertising Programs
MIAMI, FL - December 3, 2009 - H.I.G. Ventures, LLC today announced that one of its affiliates has completed a significant growth capital investment in Triad Digital Media, LLC, a Tampa, FL- based online advertising services company.
Founded in 2004, Triad Digital Media is the market leader in creating, managing and operating online media programs for leading retailer and e-commerce websites. Triad partners with large e-commerce websites such as Walmart.com, CVS.com, Dell.com and SamsClub.com and others to help them monetize their online traffic via targeted advertising placements and content. Triad creates, hosts and manages focused sections of each partner's websites and uses contextual and behavioral targeting to bring a highly relevant demographic to advertisers. Triad's approach, which in addition to custom content includes banner ads and sponsorship programs, reaches customers who are in a highly sought after 'shopping' mindset. This offering provides great value to advertisers and is unique in the digital media advertising market today.
"Triad is a true market leader bringing tremendous value and measurable ROI to both advertisers and e-commerce retailers in one of the large untapped areas of digital marketing", commented John Kim, Managing Director for H.I.G. Ventures. "The depth of their partnerships supports their ability to deliver customized solutions and strengthens the quality of the Triad offering. We are pleased to partner with Triad's outstanding senior leadership and look forward to the Company's continued growth."
H.I.G. Ventures partnered with Triad's management, including Greg Murtagh, CEO and Founder, and Roger Berdusco, President and COO, with its investment. Triad intends to use the H.I.G. Ventures' investment to accelerate its growth and expand its market offerings to current and new partners and advertisers. Triad works with a wide range of partners, including leading international Fortune 500 advertisers and leading e-commerce sites, with a shared goal of helping brands connect with their best current and future customers. As part of the investment, John Kim and Nik Shah from H.I.G. Ventures will join Triad's Board of Directors.
"We are very pleased to partner with H.I.G. Ventures as our first institutional investor", said Greg Murtagh, CEO of Triad. "Triad has a history of profitable growth due to our culture and focus on creating substantial value for partner retailers and advertisers. We believe that H.I.G. Ventures is aligned with that culture and in addition, their knowledge of the digital media industry, strategic guidance and global resources will provide us with an ability to accelerate growth even further in Triad's next phase of success."
About Triad Digital Media
Founded in 2004, Triad Digital Media is the market leader in creating, managing and operating online media programs for leading retailer and e-commerce websites. Triad partners with large e-commerce websites to help them monetize their online traffic via targeted advertising placements, content and behavioral targeting. This offering provides great value for both e-commerce retailers and the brands that advertise with them. Triad was recognized by Inc Magazine in 2009 as one of the top 500 fastest growing private companies in America. The Company has offices in Tampa, Bentonville, AR, Chicago and Los Angeles. For more information, visit www.triaddigital.com.
About H.I.G. Ventures
H.I.G. Ventures partners with entrepreneurs to provide the capital, expertise and relationships necessary to build market-leading businesses. The fund's investment strategies are supported by a growth equity team, focused on high growth companies in need of expansion capital, and a BioVentures team that concentrates on investments in biopharmaceutical, medical device and specialty pharmaceutical companies. With over $550 million in dedicated venture and growth capital under management, the firm's two teams invest throughout North America in early to growth-stage information technology, healthcare, life science, media and service businesses. H.I.G. Ventures is the venture capital affiliate of H.I.G. Capital, a leading private equity investment firm with over $7.5 billion of capital under management, with offices in Atlanta, Boston, Hamburg, London, Miami, New York, Paris and San Francisco. For more information, visit www.higventures.com.