Atlas Venture Leads Round to Fuel Growth of TV Advertising Solutions Company
CAMBRIDGE, MA–November 19, 2013 – Television advertising solutions company clypd announced it has raised an additional $7.25 million in Series A-1 financing, 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 notable angel investors also participated in clypd’s financing, including John Battelle, Founder and CEO of Federated Media, as well as leading executives from successful advertising and video technology entities such as Nanigans, the Interactive Advertising Bureau (IAB), Nexage, PayPal Media Network, Adelphic Mobile and Brightcove.
Founded one year ago by Joshua Summers and Doug Hurd, two successful executives from WHERE, Inc. (acquired by PayPal in 2011), clypd is a technology platform designed to connect media content companies with advertising media buyers, who spend approximately $70 billion on TV ads in the U.S. each year. In the past year, Summers and Hurd have assembled a team of experienced 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. clypd offers simple, efficient, automated technology that allows TV inventory owners the ability to engage with programmatic – or automated – platforms used in digital ad buying, while maintaining the value of their content, and realizing new incremental revenue streams from new types of ad inventory being created from evolving TV models.
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 both prepare their inventory for programmatic buyers and also to preserve and control the value of that inventory. It also gives content companies new revenues from ad inventory resulting from next-generation content offerings like video on demand and TV Everywhere. Working with clypd’s supply partners, marketers and their agencies gain new levels of access to TV inventory and the ability to more precisely target and engage audiences with relevant advertising.
“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.”
“In just a few short months, clypd has formed an experienced leadership team and has delivered a product that the TV advertising world needs,” said Battelle. “The opportunity clypd is realizing is tremendous: they’re growing the market by allowing both buyers and sellers to unlock even greater value from an ever-evolving TV medium.”
Cambridge, MA based clypd is a technology platform built exclusively for the TV industry and designed to connect media companies and media buyers with systems that translate, simplify and automate how advertising campaigns are packaged and sold. The clypd technology allows content owners and distributors to work with a range of existing and evolving media buying platforms, control the value of their advertising inventory and realize incremental revenue streams. The clypd technology enables buyers and sellers to leverage sophisticated data beyond standard demographics to precisely identify targeted audience segments for a range of TV advertising inventory, including linear, addressable, VOD, TV Everywhere and connected TVs. clypd was formed in 2012 by PayPal Media Network veterans to bring similar digital technologies and precision targeting capabilities created for the digital advertising marketplace to the valuable and powerful TV advertising market.
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