Tech Startup Method Media Intelligence Closes on $3M in Seed Funding
September 3, 2019 (New York, NY) – Hawkins Parnell & Young advised product technology company Method Media Intelligence (MMI) on its successful closing of a $3 million seed funding round from a Fortune 100 company. The team was led by attorneys Manuel A. Guevara and Mark K. Hsu from HPY's New York office, and MMI was also represented by David S. Song and Darren W. Shield from Song P.C.
Headquartered in New York, MMI has developed the country’s first patented bot-detection method to objectively detect fraudulent digital ad impressions, enabling corporate clients and digital media advertisers to have full transparency of their digital media investment. MMI estimates that up to 40% of ad traffic can be fraudulent, making proper identification and targeting of reliable channels of human traffic to be critical. Within a short period, MMI’s efforts have resulted in millions of dollars in reduced waste for its clients from a wide range of industries.
MMI will use the capital to scale its technology platform and fuel hiring in product and software development, engineering, sales and marketing. “We are extremely pleased by the series seed funding, which has been the product of much hard work, and we will seek to use this as a springboard for future growth,” MMI’s CEO and Co-Founder Shailin Dhar said. “Our heartfelt thanks go to our partner and our counsel.”
As MMI’s outside general counsel, HPY has helped navigate MMI through its formation, employment issues, contractual negotiations, and venture capital fundraising.