LOS ANGELES—The software and data company, VideoAmp, has announced $275 million in Series F funding at a $1.4 billion valuation.
The new funding will fully fund an accelerated roll-out of its platform usage as a media currency for the entire advertising ecosystem for traditional TV, streaming video, and digital platforms such as Facebook, Instagram, and YouTube, the company said.
The latest round of investors includes The Spruce House Partnership, D1 Capital Partners, Tiger Global, EPIQ Capital Group and Ankona Capital Partners. The investment follows an exponential revenue CAGR (compound annual growth rate) of over 100% for the last five years, VideoAmp said.
“While the ability to consume content on any device at any time is great for the consumer, the legacy media measurement and currency systems powering these services are fragmented, riddled with complexity and inaccurate,” said Ross McCray, founder and CEO. “These systems are providing an incomplete and siloed view of audiences and creating massive inefficiencies for the industry. We are thrilled to complete this round of fundraising and partner with these world class investors to properly scale our platform to create a healthier ecosystem for everyone.”
VideoAmp will also use the new capital to scale its enterprise sales, engineering, data science and client success teams.
The funding round comes on the heels of several key announcements and milestones for the company.
VideoAmp recently kicked-off currency pilots with six major advertising holding companies, while also announcing a partnership with ViacomCBS who will now use VideoAmp as an alternative currency for TV guarantees.
Additionally, VideoAmp bolstered its social and walled-garden solutions, announcing their status as an official Facebook Multi-Touch Attribution Measurement Partner. Over the course of 2021, the company has also brought on a roster of industry-revered veterans for VideoAmp’s most critical C-Suite positions.
“After speaking with dozens of brands, agencies, and media outlets who are actively engaged in the VideoAmp ecosystem, it was clear to us that the status quo of media measurement and currency is broken and needs to evolve given the size of the market and the technological capabilities available today,” said Ben Stein, managing partner of Spruce House. “The world class team that Ross assembled has a generational opportunity to drive the advertising ecosystem towards a more accurate, accountable, and privacy-centric future through their self-service tools and software.”
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