"Victory Park has been a great partner for us in every sense of the word. They are collaborative, creative and eager to help us find solutions. I would gladly recommend them to any company looking for a strategic capital provider to help grow their business."
– Al Goldstein, CEO
Avant Credit Corporation
CHICAGO – November 3, 2014 – Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments, announced today that it has provided a $20 million credit facility to Social Reality, Inc. (Social Reality) (OTC: SCRI). Based in Los Angeles, Calif., Social Reality is a leader in automated digital platform technology and social management software for Internet advertising. The facility will fund Social Reality’s acquisition of Steel Media (Steel), a privately held company with a 14-year track record of providing display, mobile, video and email advertising inventory to top consumer brands and ad agencies, while also supporting the future growth initiatives and working capital needs of the combined businesses.
Social Reality and Steel are both service providers to the digital advertising industry, but serve opposite ends of the marketplace today. This important transaction creates a comprehensive and synergistic platform that will leverage existing technology and deep industry relationships at both companies to provide a comprehensive solution to the buy side and sell side segments of the digital advertising industry. Furthermore, the acquisition brings together the talented leadership teams of Social Reality and Steel, led by CEOs Christopher Miglino and Richard Steel, respectively. Miglino and Steel will continue to lead the new platform post-closing.
“VPC is excited to announce its partnership with Social Reality and to help facilitate this important milestone in the company’s growth plans,” said VPC Principal, Derek Ferguson. “Social Reality’s leading sell side platform and impressive technology solutions and Steel’s unparalleled campaign management services will only be enhanced by this strategic acquisition. Post-closing, the companies will deliver an even larger portfolio of attractive service offerings and domain expertise to existing and prospective customers throughout the burgeoning digital advertising industry. We look forward to working alongside Chris, Richard, and the full management team as the company continues to expand.”
Founded in 2010, Los Angeles-based Social Reality, Inc. is an Internet advertising company that provides tools that automate the digital advertising market. The company has built technologies and leveraged partner technologies that service social media and the real-time bidding (RTB) markets. For further information, please visit www.socialreality.com, www.srax.com, or www.groupad.com
Victory Park Capital is a privately held registered investment advisor dedicated to alternative investing through the management of private investment funds. As specialists in credit and private equity investments, VPC focuses on middle market companies across a diversified range of industries. Whether as a lender or a control investor, VPC seeks to identify opportunities where it believes the potential for reward outweighs the risks entailed. Founded in 2007, VPC is headquartered in Chicago with additional resources in Boston, London, Los Angeles, New York and San Francisco. For further information, visit: www.victoryparkcapital.com.