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SteelHouse Raises $49 million

SteelHouse, a Los Angeles-based advertising software company, announced Thursday that it raised $49 million in a Series C funding.

“For us this is a great validation that what we’re doing in terms of disrupting the marketplace is working, not just for us but for advertisers,” said Patrizio Spagnoletto, Chief Marketing Officer at the company. “It sets us up for continued disruption early next year.”

To date, Steelhouse has seen year-over-year growth of over 155 percent and anticipates it will end 2015 with a run rate of $130 million. According to Spagnoletto, the latest round of funding will be used for product development, hiring and marketing.

The company, which currently counts more than 500 clients including Oakley and Kay Jewelers, has managed approximately 40,000 advertising campaigns.

The recent financing round was led by Mercato Partners, a Salt Lake City-based growth capital provider, and included participation from Staley Capital and Silicon Valley Bank.

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