Computer Science News
MediaGamma Receives UCL Technology Fund Investment
MediaGamma, the predictive analytics software company, has received a second round of investment from UCL Technology Fund, this time in collaboration with ParkWalk Advisors and the London Co-Investment Fund (LCIF). The start-up was spun out by UCL Business in 2014 to commercialise research developed by Jun Wang, Professor of Information Systems and Data Science in UCL Computer Science.
"In recent years, researchers have demonstrated that using reinforcement learning machines can take intelligent actions, moving from predictions to end-to-end decision making and long-term goal optimisation,” explained Professor Jun Wang, who is Co-Founder and Chief Scientist at MediaGamma. “However, the success is only largely limited to constrained settings such as video gaming. The practical commercial use of the technology is an area far less explored.”
In 2016, the company became one of the early recipients of funding from the UCL Technology Fund, which was used to engineer MediaGamma’s product to deliver lightening quick response times and secure initial commercial traction for its innovative AdTech platform.
Since its inception, MediaGamma has developed a world leading enterprise-grade reinforcement machine learning (ML) platform, to deliver decisions in under five milliseconds. It has proven its innovative technology in programmatic advertising, building and training more accurate user-profiling, and in bidding algorithms that vastly reduce customer acquisition costs for their clients.
“MediaGamma has successfully identified its application in online advertising,” continued Professor Wang, “and with its pending patent, MediaGamma has developed a real-time decision engine for bidding advertising slots. We will use this fund to scale up our offering to our customers."
The investment will enable MediaGamma to create a SaaS product and grow its team. Over $30bn was spent on programmatic advertising in 2017, and MediaGamma has consistently proved that it can provide world-leading targeting capability.
David Grimm, Investment Manager, UCL Technology Fund, says: “MediaGamma’s technology has, in a competitive field, proven itself to have world leading capabilities. We’re delighted by the progress they have made since our initial, small investment.
“The company has an excellent data science team, global existing client base and robust pipeline of potential customers. We are excited by the opportunities this funding round will unlock and enable MediaGamma to pursue.”
You can learn more about MediaGamma on the company’s website.
Find out more about UCL Technology Fund here.
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