VideoAmp, an integrated TV operating system for advertising, announced that it has raised $21.4 million in a Series B funding round led by Mediaocean.
We’re told that additional investments came from European leader in broadcast, content, digital, RTL Group, GoAhead Ventures, StartUp Capital Ventures, Anthem Venture Partners, Wavemaker Partners & Simon Equity Partners.
According to an emailed statement, this round brings the total funds raised by the company to $36.6 million.
While focusing on product rollout over the last 18 months, VideoAmp achieved approximately 400% revenue growth from 2015 to 2016 and is already pacing at nearly 500% revenue growth from H1 2016 to H1 2017. The company scaled its TV OS for advertising to agency holding companies and content owners to unify the planning, packaging and activation of linear TV and digital video campaigns across screens. The four drivers of their growth were using digital audiences (or “Advanced Currencies”) to plan linear TV, allocate upfront linear TV units, programmatically buying media across linear TV/OTT/digital channels, and reporting on de-duplicated reach and frequency within a single fully self-serve interface.
“VideoAmp has been 100 percent focused on solving the challenges of linear TV and digital video convergence since the day we founded the business in 2014,” said Ross McCray, Co-Founder and CEO, VideoAmp. “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.”