ZypMedia racks up $5.6MN in cash
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Michelle Clancy
| 31 October 2018

Local-focussed advertising platform ZypMedia has completed Series C funding totalling $5.6 million.

Founded by former college roommates Aman Sareen and Ramandeep Ahuja, who serves as CTO, along with media executive Mark Goldman, ZypMedia is targeting the $150 billion local advertising market.

This latest capital raise was led by Archer Venture Capital, and included existing investors U.S. Venture Partners (USVP) and Sinclair Broadcast Group (Sinclair). The funding will be used to develop and launch new enterprise products to the advertising platform, the company said; the funds will also be used by ZypMedia to double the size of its staff in the US and internationally over the next 12 months.

“We conceived and built ZypMedia to address a large and underserved segment of the advertising sector – local businesses,” said Aman Sareen, co-founder and CEO of ZypMedia. “Utilising the ZypMedia platform, media companies can offer local advertisers the same buying power as large national brands, enabling them to participate in the digital media and OTT revolution.”

ZypMedia went to market four years ago and has since inked partnerships with Sinclair and other media companies.

"ZypMedia has enabled us to diversify our offerings for local advertisers," said Sinclair CRO Rob Weisbord. "The ability to offer our local advertisers cutting-edge products such as OTT is very powerful, as it allows them to complement their linear television buys, levelling the playing field and putting them on par with national advertisers. Most importantly, ZypMedia helps us empower local advertisers to effectively engage with their audiences across all devices."