Advert software program supplier Viant Expertise Inc. filed an S-1 on Friday with the US Securities and Alternate Fee forward of an preliminary public providing as the corporate positions itself for future development.

The corporate anticipates a growth within the rising programmatic promoting market, notably throughout linear TV, CTV and cellular.

Viant, which was based in in 1999 by Tim, Chris and Russ Vanderhook, didn’t disclose how a lot it goals to lift within the providing. Six banks are underwriting the deal, led by BofA Securities and UBS.

In its submitting, Viant stated it has a worthwhile enterprise mannequin and that as a self-service platform, it provides new prospects and “as prospects improve the usage of our software program, we’re capable of exhibit sturdy working leverage.”

For the yr ending December 31, 2019, Viant noticed $164.9 million in income – a 52% improve from 2018 – whereas web revenue was $9.9 million. Nonetheless, income dropped 4% throughout the 9 months ending September 30, 2020, to $108.8 million from the earlier yr, and web revenue was $7.8 million.

With the US programmatic promoting market anticipated to growth from $65 billion in 2018 to $140 billion in 2022 – representing almost half of whole US media spend, in response to eMarketer – Viant stated that its product suite might be in demand.

The corporate additionally stated that there’s a powerful marketer demand for cross-channel return on advert spend measurement, and demand for scaled people-based platforms as promoting turns into extra data-driven and entrepreneurs look to focus on audiences on the particular person and family degree whereas respecting shopper privateness.

And with Google phasing out third-party cookies in Chrome, elevated privateness issues are inflicting entrepreneurs to scale back their reliance on distributors and software program platforms that primarily use cookies for gadget identification.

“That is driving an business shift away from cookie-based DSPs to scaled people-based DSPs,” the corporate stated.

Viant Expertise Inc., which was included in Delaware in October 2020, will use proceeds of the providing to fund potential acquisitions and investments in “applied sciences or companies that complement our enterprise,” in addition to to buy newly-issued Viant Expertise LLC items.

Advert tech IPOs are experiencing one thing of a resurgence. Viant’s S-1 comes on the heels of PubMatic’s public providing in December, and different advert tech and digital media corporations are thought-about prone to observe the identical path in 2021, assuming the IPO markets for tech corporations stay sizzling. This new wave comes years after the string of preliminary public choices within the early-to-mid-2010s when the advert tech market was peppered with high-profile IPOs, together with demand-side platforms Rocket Gasoline in 2013 and The Trade Desk in 2016.

The Vanderhooks offered Viant to Time Inc. in 2016 for a reported $87 million. They bought back their 60% stake after Time Inc. itself was acquired by Meredith in 2018, permitting Viant to once more grow to be an impartial firm.

The 300-person firm continued to concentrate on being an omnichannel, self-serve DSP targeted on measurement. Its demand-side platform Adelphic, which Viant purchased in 2017, stays one among Viant’s most prized property. Adelphic plugs into Viant’s identification graph and powers its self-serve capabilities.

“We consider the promoting business continues to be within the early levels of a shift to programmatic promoting,” the corporate stated in its submitting. “The flexibility to transact via real-time-bidding platforms has advanced past banner promoting for use throughout a variety of promoting channels and codecs, together with desktop, cellular, linked TV, linear TV, streaming audio and digital billboards.”