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Investment for Fast-Growing VideoAmp
TV advertising platform VideoAmp has raised $21.4m in a Series B funding round led by ad software company Mediaocean. Funds will be used to further expand its engineering team and license additional first party data sets.
Other participants in the round, which brings the total funds raised by the company to $36.6m, include European television and radio channel owner RTL Group, whose TV channels are either the number one or number two in eight European countries.
VideoAmp's software and data solution enables advertisers to plan, buy and measure the success of de-duplicated and targeted campaigns for linear TV, VOD, OTT, desktop and mobile audiences. In the last year it has set up more than 40 partnerships, including deals with research and data firms comScore, Nielsen, LiveRamp, Neustar and Clypd. It achieved c.400% revenue growth from 2015 to 2016.
In May 2017, it announced a partnership with New York-based Mediaocean, creating a fully integrated linear TV ad optimization solution, integrating VideoAmp's technology into a read/write API within Mediaocean's Spectra product.
Ross McCray, co-founder and CEO of VideoAmp, comments: 'I believe our singular focus and engineering first approach has been instrumental to our growth and a key advantage in the marketplace. Two-thirds of our employees are technical and we don't have the legacy business models that hinder and distract like our competitors. We will be investing the lion's share of capital from this round to further expand our engineering team and license additional first party data sets as new inputs into our data science projects'.
Bill Wise, co-founder and CEO of Mediaocean, joins VideoAmp's Board of Directors, and comments: 'This investment, and the software solutions we create together, will ensure that our customers benefit from secular shifts in advertising from traditional ad sales to programmatic and to audience-based buying and selling across devices'.
Web sites: www.videoamp.com , www.mediaocean.com and www.rtlgroup.com .
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