VideoAmp said it raised $275 million in Series F Funding and will use the money to accelerate the rollout of its platform as a currency for buying and selling video advertising.
ViacomCBS said it will be using VideoAmp’s data as currency for national media deals. VideoAmp said it was in talks with other media companies interested in having an alternative to industry leader Nielsen.
Also Read: Ad Industry Seeks Alternatives After Nielsen Loses Seal of Approval
“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 said the new round of funding was lead by investors including The Spruce House Partnership, D1 Capital Partners, Tiger Global, EPIQ Capital Group and Ankona Capital Partners
“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.”
