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Tradescape has raised $43 million for its software-as-a-service (SaaS) to help online businesses handle their finances.
The $43 million sum is the first chunk of of a proposed $114 million round.
Tradescape works with ad agencies, content publishers, and content creators to manage transactions that start in digital media marketplaces. Its “financial clearing” technology automates financial reconciliation, clearing, billing, settlement, invoicing, reporting, and auditing.
Buying and selling media is a complicated process. Tradescape’s tools helps brands, agencies, and marketers ensure that they stay on-budget without constantly needing to check in with their partners and track campaign performance. Its micro-clearing engine can quickly process billions of transactions from multiple partners to make the “complex value-exchanges” more navigable. Content owners and publishers can use Tradescape’s products to monitor the monetization and consumption of their content.
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San Mateo-based Tradescape filed a form with the SEC this morning disclosing the round. CEO Michael Pliner is listed on the filing, along with CGO Charles Shuh and President Sam Gilchrist. Previously, Pliner was a founder at Verity Inc., a founder at Sytek, and the CEO of Vuent. Also listed on the filing were Ash Vasudevan and Mitch Kitmura of Edge Holdings and DFJ JAIC, respectively.
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