MiQ recently announced the acquisition of French media governance and data quality company, Grasp. This marks MiQ’s third financial investment to date, as part of its long-standing commitment to making the digital advertising ecosystem and experience better for all advertisers.
While the rapid growth of digital media channels has unlocked incredible opportunities for advertisers, the level of complexity they navigate every day has simultaneously increased. As data shows, there is an average of $45,000 in overspending for every $1 million in media budget—often from waste, human error, or fraud—and 80% of marketing data is broken or lost due to manual processes.
Grasp’s SaaS suite is the world’s first solution to address these pressing challenges head-on with a preventive approach. Its compliance products prevent non-compliance and enforce governance frameworks before the campaign launch, eliminating risky manual errors and saving advertisers millions in potential lost revenue due to overspending or inaccurate data. The company’s innovation has seen growth in the past several years, with more than 8,000 users worldwide across leading brands, such as L’Oréal and PepsiCo, and media agencies, such as Havas Media Group and WPP.
“Our acquisition of Grasp is another exciting step in the evolution of our company as we look to grow, lead the digital advertising industry, and help advertisers forge forward in their programmatic journeys,” said Gurman Hundal, MiQ’s co-founder and CEO. “Grasp’s technology strategically adds the first SaaS platform to our offering and – as we double down on investments that are future-facing and focused on advancing the current programmatic experience – will prove instrumental in strengthening media buying for brands and agencies across the globe.”
Grasp will introduce a new route to partner with MiQ across all markets. The company will continue to operate as an independent business unit under MiQ’s ownership and will retain its current brand. There will be no change to either company’s organizational structure.
“Grasp consistently advocates for and helps bring operational excellence in digital advertising by empowering all in the media buying process and ecosystem to do the right thing from the very start. Under the MiQ umbrella, we’ll have even more opportunity to bring strategic advantage, order, and efficiency to media buying processes and advance our shared mission to fuel operational excellence in new and exciting ways,” said Pierre-Lou Dominjon, co-founder and CEO of Grasp.
“Grasp’s quality assurance SaaS suite identifies errors in the campaign setup before the campaign begins, thus eliminating risk and saving advertisers millions in potential lost revenue due to overspend or inaccurate data. While the operational and process issues Grasp solves aren’t trendy, they’re the backbone of every dollar that ever gets invested, transacted, and spent,” said Siddharth Dabhade, Managing Director and global board member at MiQ.