clypd raises $7.25MN for programmatic TV ad tech
Parent Category: News | 25-11-2013
Television advertising platform company clypd has raised an additional $7.25 million in series A-1 financing.
Founded a year ago by Joshua Summers and Doug Hurd, clypd is automated technology that allows TV inventory owners the ability to engage with programmatic – or automated – platforms used in digital ad buying. The idea is to connect media content companies with advertising media buyers, who spend approximately $70 billion on TV ads in the US each year.
The round was led by Atlas Venture. Other investors in the round include Data Point Capital, Freestyle Capital, Transmedia Capital, Tribeca Venture Partners and Boston Seed Capital. All were participants in an earlier $3.2 million series A round in March.
Several angel investors also participated in clypd's financing, including John Battelle, Founder and CEO of Federated Media, as well as executives from advertising and video technology entities such as Nanigan's, the Interactive Advertising Bureau (IAB), Nexage, PayPal Media Network, Adelphic Mobile and Brightcove.
In the past year, Summers and Hurd have assembled a team of engineers and executives from the digital, cable and TV industries to build and deliver technology that works with a range of existing and evolving media buying platforms.
Programmatic buying, long the norm in digital advertising, uses technology and data to allow for faster, more precise buying decisions as well as automated execution. The clypd platform and tools enable content owners and distributors a way to prepare their inventory for programmatic buyers. It also supports next-generation content offerings like video-on-demand and TV everywhere.
"We're delighted to fuel the momentum that Joshua and Doug and their team at clypd have already created," said Ryan Moore of Atlas Venture, who serves on clypd's board of directors. "They've built an exciting, scalable solution for the TV ecosystem and the response from the media and advertising world is terrific."