Wednesday June 19, 2019

Warning: Use of undefined constant sfire_topic_count_text - assumed 'sfire_topic_count_text' (this will throw an Error in a future version of PHP) in /nas/content/live/nyconvergence/wp-content/themes/nyconvergence-3/functions.php on line 188

Namely Raises $1 Million to Help Ad Agencies Retain Key Employees

“Retaining top folks is always a problem for agencies,” digital media agency veteran Matt Straz, told VentureBeat. “Battling for talent with tech startups and that has added a whole new dimension to the talent crunch.”

Straz responded to the huge turnover problem by creating Namely. The NY-based startup hopes to use cloud computing and data analysis to help advertising agencies retain their key employees. According to VentureBeat, Namely raised $1 million in seed round from some of the biggest names in NY’s ad-tech scene: Mike Lazerow from Buddy Media, Michael Barrett from AdMeld,  and CIA founder Chris Ingram, among others.

After selling his previous startup Pictela to AOL, Straz says that he decided to avoid raising from traditional venture capitalists and took four months going door to door with people from his own industry. “It took a lot longer, but it was a lot more satisfying. There are kind of two worlds in New York, the flashy consumer tech and then the big world of ad-tech behind it,” Straz tells VentureBeat.