Entertainment producer RTL Group led a $15m series A round for US-based screen optimisation platform developer VideoAmp on Wednesday that took the startup’s total funding to $17.2m.
Anthem Venture Partners, Simon Equity Partners, Third Wave Capital, Wavemaker Partners, ZenShin Capital and Startup Capital Ventures also participated in the round.
VideoAmp’s software is equipped with machine-learning algorithms that combine TV, digital, and over-the-top video platforms into a single platform that can help advertisers and media owners to best utilise content.
Rhys Noelke, senior vice president strategy at Luxembourg-based RTL, will join VideoAmp’s board of directors in conjunction with the round. He said: “VideoAmp fits perfectly into RTL Group’s digital strategy as it is complementary to our current ad tech businesses SpotX and Clypd.
“The transaction with VideoAmp positions RTL Group as the first European broadcaster to invest in the increasingly important field of cross-field expertise. With this move into the digital space with VideoAmp, RTL Group strengthens the advertising technology arm of the recently created RTL Digital Hub.”
Anthem Ventures, Simon Equity, Third Wave, Wavemaker and ZenShin Capital previously provided $2.2m in seed capital for VideoAmp in December 2014.