Media Mixers: Buddy Media Celebrates $23 Million in Funding

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mixer_smallADOTAS – Buddy Media lured me into its office-warming party not just with the promise tasty food and booze — there was the promise of news as well. I was immediately floored by the size (25,000 square feet) of the new Manhattan offices next to Madison Square Garden and Penn Station; the Facebook brand management software developer — which launched its agency platform last October — has grown from 30 employees to about 100 just this year, and it’s planning to expand to a staff of 300 as it just closed a $23 million Series C round of funding.

New investor Institutional Venture Partners — famous for investments such as Netflix, Twitter and Zynga — joined existing Buddy Media investors Softbank Capital, Greycroft Partners and Bay Partners. It’s easy to see how Buddy perked the major player’s interest — the company has boasted 15%  month-over-month growth throughout 2010 and seven of the 10 largest global advertisers are currently using the platform. In addition, brand and agencies using the platform tripled from 100 to 300 since the start of this year.

So there was plenty of reason to celebrate: while sipping Blue Moons and nibbling on beef brisket sliders and mac’n’cheese, General Manager of Sales teased me with details of soon-to-be-released case studies. After congratulating him on the company’s amazing growth, CEO Mike Lazerow and I discussed the latest Facebook privacy tizz. I even got into a friendly ping pong volley with Adotas vet Kiran Aditham, who now runs Agency Spy at MediaBistro.

Buddy’s new office is quite nice and has some cool quirks like London-style phone booths. I also noted the wall of bobbleheads — after a year with the company, an employee gets one in his or her likeness.

Buddy Media buddies: CEO Mike Lazerow and CRO Jeff Ragovin
Buddy Media buddies: CEO Mike Lazerow and CRO Jeff Ragovin
General Manager of Sales Matthew Flanagan chows down on a chicken salad slider with a jalapeno surprise.
General Manager of Sales Matthew Flanagan chows down on a chicken salad slider with a jalapeno surprise.
Now that's a spread.
Now that's a spread.
"Good news, everyone: we're doing awesome! Let's drink."
"Good news, everyone: we're doing awesome! Let's drink."
Balls of fury.
Balls of fury.
The staff is remembered for the ages in statue form -- namely, bobbleheads.
The staff is remembered for the ages in statue form -- namely, bobbleheads.
Telephone booths of London.
Telephone booths of London.

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