DIVERSITY& INCLUSIONREPORT 2020

MEMO FROM OUR CEO
PubMatic has long been committed to supporting Diversity & Inclusion within our organization, fromtransparently sharing data, developing inclusive hiring practices and implementing trainings that help
us better understand and prevent unconscious bias and halt sexual harassment. In light of recent
events where racism and social injustice have taken center stage, our company must apply a growthmindset to identify what we can do additionally both as individuals and as a company to help bringabout change in a measurable and high-impact way.
We have committed to making progress by taking seven action steps.

1

Continue to publish diversity data annually.

2

Develop policies and practices to ensure greater diversityof candidate pools drive greater representation of female
and underrepresented minority employees acrossleadership levels and functional areas.

3

4

Invest up to $100,000 in training programs over the next
6-12 months for employees around unconscious bias andcross-cultural understanding as well as on diverse andinclusive hiring strategies for people managers.

5

Commit to spending a significant percentage of ourannual procurement budget to support female, Blackand other minority-owned businesses.

6

Ingrain public service and impact into our corporate DNA
and support employees to volunteer both as a company
and in their personal time.

7

Create an internal Diversity & Inclusion Task Force madeup of employees across teams and regions around theworld to identify additional areas of opportunity and needto drive a more diverse and inclusive culture at PubMatic.

Build upon our mentorship programs for female
employees and expand to include programs for othergroups, including Black employees.

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Our 2020 Diversity & Inclusion Report has us once again owning our numbers and subscribing to
the belief that measurement and transparency inspire action. We will be rolling out new initiatives
to support our Black employees and other underrepresented groups and foster a more inclusive
corporate culture as well as introducing programs and educational opportunities that empower our
entire workforce to become allies in the fight against racism and inequality. We will also be looking
to do what we can to address the socio-economic impacts of systemic racism and gender bias.
PubMatic’s mission is to fuel the endless potential of internet content creators, and we are better
able to execute this vision if we fuel the endless potential of our teams and our people. Our workforce
has grown by over 20% over the past year, with more than 500 full time employees across 14 offices
around the globe.
With this growth, we have increased the representation of female employees worldwide, andunderrepresented minorities in the US each year for the past three years. Our team in EMEA is themost ethnically diverse, with 32% of the workforce from populations underrepresented in tech inthat market (Black, Asian and Middle Eastern), up from 13% a year prior. As a global company, we
recognize and celebrate the differences that exist among our employees and believe that building
a workforce that is representative of the communities and companies that we serve will enable us
to better innovate for our clients.
We are continuing to make progress towards achieving this goal at all levels of the company byfocusing both on diversifying our hiring practices as well as on inclusion and career development
to grow representation among our management and leadership teams.
RAJEEV GOEL
Co-Founder and CEO© 2 0 2 0 P U B M AT I C , I N C . A L L R I G H T S R E S E R V E D

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WOMEN AT PUBMATIC
GLOBALLY
27.3% GLOBAL WOMEN

Our global workforce is getting more gender diverse,
particularly at middle management levels, wherefemale representation, at 31.5%, is higher thanour company average. However, we still have gaps
in representation of women among our senior
management and engineering teams, though we havebeen making incremental gains. Female employees
make up 22.8% of our senior management (up 1.7
points over 2019) and 17.8% of our global technicalteams (up 0.6 points over 2019).

17.0% INDIA WOMEN

24.3%

2020

27.3%

2020
New Hires
2019
2020
2020
New Hires© 2 0 2 0 P U B M AT I C , I N C . A L L R I G H T S R E S E R V E D

2019The overall representation of women continues to rise
globally. Women now represent 27.3% of our global
workforce and over one-third (34.8%) of our new hires— the largest increases for female representation since
we began publishing our D&I reports in 2017. Over the
past 12 months, we have focused on recruiting female
employees, particularly in our India offices, which arehome to our largest workforce of 230 people, many ofwhom are engineers.

34.8%

13.8%
17.0%
28.1%

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UNDERREPRESENTEDMINORITIES IN THE US
While Asian employees remain the largest group
among our US employee base, representing 43.3%
of our US workforce in 2020, we have made progressin growing the representation of populations
underrepresented in tech, with underrepresented
minorities rising to 15.0% of our US workforce and18.6% of our new hires over the past 12 months.
Despite progress in growing overall representation ofunderrepresented minority employees at PubMatic,
gaps remain. Black and Latinx employees areunderrepresented among our management andtechnical teams. Underrepresented minorities makeup only 7.1% of our senior leadership in the US and17.6% of our middle management, and 4.5% of ourtechnical workforce. Specific initiatives and programs
being rolled out to address these discrepancies are
outlined later in this report.

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US HEADCOUNT
43.3% ASIAN

41.7% WHITE

2019

44.6%

2019

40.5%

2020

43.3%

2020

41.7%

8.0% LATINX

2020
New Hires

2020
New Hires

33.9%

3.2% BLACK

2019

7.4%

2019

2020

8.0%

2020

2.7% MULTIRACIAL© 2 0 2 0 P U B M AT I C , I N C . A L L R I G H T S R E S E R V E D

1.7%

1.1% INDIGENOUS
1.4%
1.1%

2020
New Hires

2020
New Hires

6.8%

3.2%

2020

2020

2.7%

5.4%

2019

2019

0.7%

2020
New Hires

2020
New Hires

10.2%

47.5%

0.0%

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FURTHER DIVERSIFYINGOUR HIRING PRACTICES
PubMatic is continuing to invest in the future of ourbusiness with an aggressive hiring plan in the second
half of 2020. This presents an opportunity to diversify
our workforce even further as we bring in top talent tosupport high growth areas and capitalize on opportunities
to launch new products. Bringing a more diverse slate ofcandidates to the table for open positions is the first step inthis process. Our recruiters remain committed to sourcing
candidates with transferrable skills to expand our talentpools outside of ad tech, which as an industry has struggledwith attracting minority and female career employees.
The critical “new” piece of our diverse and inclusive hiring
strategy will be to train our hiring managers. Hiring diverse
talent is a skill that starts with your fundamental hiring
practices and requires both the use of inclusive language
and an understanding of the value-added proposition thatcomes with having a diverse team. We will be rolling out
this Hiring Manager training on a global scale in theSummer of 2020.

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INCLUSION THROUGHCONTINUOUS LEARNING
At PubMatic, we are dedicated to empowering our team members around the globe. We
have launched new initiatives to support the advancement of female leaders across thecompany and will be introducing new programs dedicated to supporting our Black, Latinx
and other underrepresented populations within our workforce to drive development
efforts to increase representation at all levels of the company.

CAREERADVANCEMENT© 2 0 2 0 P U B M AT I C , I N C . A L L R I G H T S R E S E R V E DProviding opportunities to learn, upskill and grow one’s career are key
components of the PubMatic employee value proposition and are critical toretaining top talent. As an organization, we are committed to investing moretime and resources in succession planning as well as creating unbiased
approaches to promotions that are influenced by both metrics and feedback
from a diverse group. We will be introducing Manager Training in the Fall of2020 to address the potential impact of unconscious bias on an employee’s
career at PubMatic. We will endeavor to mitigate decision-making bias that
could result in the underpromotion of female and underrepresented minorities.

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INTERACTIVELEARNING
JOURNEYS

Our ultimate D&I learning goal is educating our employees to recognize
unconscious bias and have transformative dialogues with each other to bringabout greater cross-cultural understanding. We have run and will continue torun a series of workshops and interactive learning experiences in collaboration
with external trainers to halt harassment, manage bias, and have better identity
conversations on race, ethnicity, gender and sexual orientation

ENCOURAGECOURAGEOUS
CONVERSATIONS

We will once again be calling on our female leaders at PubMatic to serve as
mentors to many by telling employees about their own unique life and career
experiences with our “Joy in the Journey” speaker series. In addition, we will
be inviting some of the female entrepreneurs we partner with as vendors tojoin the conversation and add their own perspective as leaders of their own
businesses.

LISTENING
EVENTS

Employees at PubMatic need to get comfortable having uncomfortable
conversations about race and gender inequality to become allies in the fightagainst it. To help employees evolve from co-workers to allies, we will be
adding a series of listening events during which our employees will have theopportunity to tell each other about their own experiences with racism andprejudice and react to what is currently happening in our collective society.

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OUR COMMITMENT TO MINORITY
AND FEMALE OWNED BUSINESSES
Companies need to be willing to make the effort to expand their vendor list
and potentially change who they have traditionally been spending their money
with. At present we are creating a survey to roll out to our current list of vendors
to establish if they are female-owned or minority-owned businesses as well
as researching what additional best-in-class and diverse vendors we can start
doing business with. By being more inclusive with our company wallet, andcommitting several million procurement and marketing dollars with thesebusinesses, PubMatic will help address the socio-economic drivers of racismand gender inequality.

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INSPIRING HOPE & ACTIVISM
Individual employees routinely volunteer with various organizations
throughout the year, and while PubMatic helps to defray the cost bysponsoring events and funding the donations associated with theseopportunities, PubMatic Impact Day will further unify our company
for a day of public service. Launching in the Spring of 2021, ourintention is that this universal day of service becomes an annual
event, with all employees worldwide participating in volunteer eventson the same day. Our D&I committee will collect feedback from
employees regarding potential partner organizations. The goal is
to align this project with causes that our employees are passionate
about — supporting the communities in which we live and work.

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COMMITTED TO DOING MORE
The first half of 2020 has brought a series of unprecedented trials and experiences to ourbusiness as well as our personal lives. With the coronavirus upending the global economy,changing the way we do business and instituting a “new” normal for how we conduct our daily
lives, it is more important than ever to remain connected to and inspired by each other. Our
employees reacted swiftly and passionately to the racial injustices and systemic oppressionthat have come to the forefront of our collective social experience in recent weeks, streaming
live on devices that have become central to the way in which we “connect” during quarantine.
Coronavirus may have us self-isolating and social distancing, but it has also galvanized a captive
global audience to act and our employees have raised the bar for our organization’s response.
Our corporate response is a commitment to go beyond writing a check to an activist
organization or donating to a charity as a form of performative allyship. We have chosen toaddress racism and inequality with an 18-month strategic plan to become more diverse andinclusive in our workplace, workforce and marketplace. This plan includes new opportunities
to listen, learn and support causes that inspire us as well as an effort to be more purposefulwith our vendor selection in support of minority- and women-owned businesses.
I am excited to collaborate with the newly formed Diversity & Inclusion committee on thislonger sustained plan to bring about the changes in our organization to address the question:“What type of company do we want PubMatic to be next year?”
LORRIE DOUGHERTY
Vice President, Human Resources© 2 0 2 0 P U B M AT I C , I N C . A L L R I G H T S R E S E R V E D

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Methodology
We analyzed diversity and inclusion metrics by region, including US, EMEA, APAC (minus India), and India.1 Data included is for the 12-month
period through June 2020 (July 1, 2019 through June 30, 2020) and demographic percentages are based on first-half totals (as of June30, 2020). Gender, race,2 and ethnicity are the key demographics used to analyze the fairness of our hiring, promotion, and compensation
practices. Race and ethnicity metrics were analyzed for the US, including representation of people of color (including Black and Latinx
employees).3
Please note that this document may include inaccuracies or typographical errors, and is based on operational data that has not been audited
or reviewed by a third-party. PubMatic does not intend to update the information contained in this document if any information or statement
contained herein later turns out to be inaccurate.

India was separated out from the data analysis for certain items given the high concentration of employees in our Pune office.
Information on race is obtained through voluntary self-reporting in hiring, as well as employment records and observer identification, in accordance with the guidelines of
the U.S. federal Equal Employment Opportunity Commission (EEOC).
12, 3

About PubMatic
PubMatic delivers superior revenue to publishers by being the sell-side platform of choice for agencies and advertisers. The PubMatic
platform empowers independent app developers and publishers to maximize their digital advertising monetization while enablingadvertisers to increase ROI by reaching and engaging their target audiences in brand-safe, premium environments across ad formats anddevices. Since 2006, PubMatic has created an efficient, global infrastructure and remains at the forefront of programmatic innovation.
Headquartered in Redwood City, California, PubMatic operates 14 offices and nine data centers worldwide.
PubMatic is a registered trademark of PubMatic, Inc. Other trademarks are the property of their respective owners.

PUBMATIC CONTACTLORRIE DOUGHERTY
VP, Human Resources
lorrie.dougherty@pubmatic.com© 2 0 2 0 P U B M AT I C , I N C . A L L R I G H T S R E S E R V E D

Press Contact:
BROADSHEET COMMUNICATIONS
pubmaticteam@broadsheetcomms.com

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