RTL Group and Tivo both backed the latest round raised by Clypd, which aims to bring programmatic advertising to television.
US-based advertising technology company Clypd raised $19.4m yesterday in a series B round led by media company RTL Group, with digital video recording company TiVo also participating.
RTL and Tivo were joined by Duke University, Atlas Venture, Transmedia Capital and Western Technology Investment.
Founded in 2012, Clypd’s platform enables TV networks to automate their sales efforts and provides analytics to help them target their audience more precisely.
The company will use the series B funding to grow its product development, data science, business development, engineering and marketing teams. It also plans on expanding into Europe and Asia Pacific.
Clypd previously secured $3.2 in a May 2013 series A round backed by Atlas Venture, Freestyle Capital, Boston Seed Capital, Tribeca Venture Partners, Transmedia Capital and angel investor John Battelle that was subsequently extended to $10.5m in November the same year.
Rhys Noelke, vice president of business development for RTL, said: “Clypd is one of the first companies to create a strong platform for programmatic sales for linear TV in the US. It offers a unique set of tools to the market at a crucial time, when programmatic video sales are growing rapidly.
“Clypd adds key TV sales competencies that will offer groundbreaking solutions for TV advertisers. We see great potential in the company – in both the US and Europe.”
This article first appeared on our sister site Global Corporate Venturing.
