VideoAmp Raises $75M in Committed Financing from Capital IP
LOS ANGELES–May 18, 2021–Software and data platform, VideoAmp, has secured a total of $50M of non-dilutive debt financing from Capital IP with the ability to draw up to $25M in further capital. The funding will further accelerate VideoAmp’s leadership position in planning, measurement, optimization and currency solutions for the convergent TV ecosystem. As the consumer video viewership landscape continues to fragment and the need for an infrastructure that unifies linear TV, streaming and digital media audiences intensifies, VideoAmp is positioned as the solution for advertisers, agencies and media owners, redefining how media is valued, bought and sold.
VideoAmp has seen over 700% growth over the last five years and is on track to approximately double year-over-year growth in 2021. The round will be used to continue hiring best in class executives and massively expand sales, client success and engineering teams. Most recently, VideoAmp brought on Paul Ross, former Trade Desk CFO, as their Chief Financial Officer and newest board member.
Co-Founder and CEO, Ross McCray, stated: “Our execution and strong financial performance have allowed VideoAmp optionality on funding our growth plans. We are happy to partner with Capital IP for the access to growth capital in order to fully capture our land grab opportunity on great terms and without shareholder dilution. It is the best of both worlds.”
The latest round of funding indicates a new phase of growth for VideoAmp as it seizes the opportunity to create measurement, currency and optimization solutions for the $160B convergent TV ecosystem. As an alternative solution to the legacy model of television measurement, VideoAmp is further investing in their proprietary dataset that commingles ACR and Set-Top Box data across 28M households and integrates into multiple digital data sources using first-to-market privacy-safe methodologies like clean rooms. The use of clean rooms allows VideoAmp to accurately measure media on an impression level, with technological guarantees, while adhering to privacy guidelines and state laws. VideoAmp’s data, combined with a comprehensive toolset for planning, measurement, optimization and attribution, are all housed within the VideoAmp platform and provide a deduplicated view of advertising performance across linear, streaming and digital. The suite of tools and data enables marketers and media owners to reimagine the way brand marketing and media is valued, bought and sold.
Aron Dantzig and Riyad Shahjahan, both Partners at Capital IP, jointly stated: “Ross and the team at VideoAmp have built one of the most technologically advanced and effective platforms to measure and optimize linear TV, streaming and digital advertising in the world. We are thrilled to partner with the company going forward as they continue to redefine the cross-channel video advertising industry with innovative, privacy-compliant platforms that deliver critical insights to media owners, advertisers and agencies alike when legacy systems fail to support.”
Momentum for the company shows no sign of slowing as a slew of key partnerships were announced through the early months of 2021. Supply-side platform OpenAP and media giant Omnicom Media Group announced VideoAmp as the first partner to integrate with their platform in a first-to-market partnership. NBCUniversal also called upon VideoAmp as the first measurement partner to integrate with their newly formed Audience Insights Hub. Most recently, dentsu named VideoAmp as its data partner of choice for its newly formed DELTA team with the goal of revolutionizing the way media investments are planned, bought and measured.
Source: Business Wire