VideoAmp, a Los Angeles based ad tech start up focused on helping marketers optimize cross-platform advertising purchases, has announced a new $70 million funding round.
The investments come from investment Bank The Raine Group, which contributed $50 million, and Ankona Capital, which kicked in the other $20 million. VideoAmp has raised $106.6 million since launching in 2014.
VideoAmp uses software to match a marketer’s first-party sales/conversion data and ad exposure data from multiple leading MVPDs, smart TV manufacturers, OTT services, mobile apps and premium content providers.
The company said revenue is up more than 700% over the last two years. The investment, it added, will be used to expand its customer and data science teams.
VideoAmp also announced that veteran media executive Peter Liguori has been added to its board of directors as a senior advisor.
"With more than $35 billion in TV, OTT and digital video advertising dollars not reaching their desired customer targets each year, the entire industry needs to evolve,” said Ross McCray, co-founder and CEO of VideoAmp, in a statement. “By optimizing marketing investment to sales versus eyeballs, everyone wins. Marketers will generate more sales from their advertising dollars, media owners will better monetize their audiences, and consumers will enjoy premium video content with more relevant and fewer repetitive ads.”
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