MNTN, an adtech company specializing in Connected TV (CTV), has raised $119 million in a funding round co-led by asset manager BlackRock and Fidelity management and research.
The company, whose existing investors include Baroda Ventures, Greycroft Partners and Qualcomm ventures, did not disclose the valuation it fetched in the round on Tuesday.
U.S. ad spending on CTV is estimated to more than double from 2021 to about $29.5 billion by 2024, according to research firm eMarketer.
Read more: Reuters
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