Direct Media Technologies Closes $10M In Debt Financing

Direct Media Technologies Inc. (DMT), just announced that it closed $10 million debt facility from Western Technology Investment (WTI), a private investment firm based in Silicon Valley. With the new financing DMT to further scale its user base by continuing to consolidate the highly fragmented generic domain name ownership landscape.

“In WTI, we have partnered with a firm that has financed exceptionally talented teams at the world’s leading technology companies including Facebook, Google and Juniper, further validating, in our view, the unique vision of our founders. We could not be more excited about this relationship with WTI, an excitement that goes beyond the dollars and cents involved here,” said Ted Steube, DMT’s CEO. “DMT and WTI share the vision that successful B2C web products and services are built by amassing a stable of high-performing users and that direct navigation users are the highest converting users online today.”

DMT previously raised over $6 million in cash via two successful financing rounds of its common shares.