We are thrilled to announce that clypd has secured $19.4 million in a Series B round of financing led by global media company RTL Group, with additional participation from Atlas Venture, Data Point Capital, Duke University, TiVo Inc., Transmedia Capital and Western Technology Investment. With approximately $30 million in financing to date, the latest round of funding will accelerate growth of the our industry-leading platform to help TV media owners in the adoption of programmatic TV.
The funding will be used to expand resources across all departments at clypd, including product development, data science, business development, engineering and marketing. This will help create new technologies to support enterprise-wide sales solutions for television media owners. The capital will also be used to expand the business into new markets, including Europe and APAC.
“The television advertising industry continues to adopt programmatic strategies that move the industry forward, making TV advertising more targeted and efficient. clypd is laser-focused on helping television media owners and distributors navigate this changing landscape while enhancing the value of their inventory,” said Joshua Summers, CEO and Co-Founder at clypd. “We are grateful and excited to have a stellar group of investors backing the company as we continue to develop our groundbreaking TV sales platform. RTL Group’s global footprint will certainly help accelerate our efforts to deliver on the promise of programmatic TV.”
Television advertising stands as the largest existing advertising channel, with a $74 US/$220 billion global market. As new advertising strategies are adopted across the industry, programmatic TV promises to be one of the fastest growing advertising segments in the industry.
To read the full release, please check it out here.