Broadcaster Sinclair Broadcast Group has acquired the remainder of one of its portfolio companies, ZypMedia, the US-based owner of demand-side advertising platform ZypTV, for an undisclosed amount, according to MandASoft.
ZypTV is a programmatic advertising platform that enables advertisers on online television streaming platforms to reach local audiences. Sinclair owned a 27% stake prior to the acquisition.
The company had raised a total of $12.6m having closed a $5.6m series C round in 2018 led by investment firm Archer Venture Capital and backed by Sinclair Broadcast Group and VC firm US Venture Partners (USVP).
Sinclair led a $4.4m series B round for ZypMedia in 2015 that also featured existing investor USVP, reportedly bringing its overall funding to $7m.
