VideoAmp, a US-based advertising technology developer backed by mass media group RTL and advertising services provider Mediaocean, completed a $70m series C round led by merchant bank Raine Group yesterday.
Raine supplied $50m as part of the round, which also featured venture capital firm Ankona Capital. It boosted the company’s overall funding to more than $108m.
Founded in 2014, VideoAmp provides a software platform that helps advertisers plan, optimise, execute and measure the impact of campaigns across television, on-demand video, over-the-top and digital media channels.
The money will support the expansion of VideoAmp’s headcount from 150 to 200 by 2020, primarily across its customer support and data science teams. Chief strategy officer Jay Prasad told Variety the company would also consider strategic acquisitions.
Erik Hodge, managing director and head of Raine’s Los Angeles office, will also join VideoAmp’s board of directors, as will Peter Liguori, most recently president and chief executive of media conglomerate Tribune Media.
VideoAmp raised $21.4m in a 2017 series B round led by Mediaocean, with participation from RTL, GoAhead Ventures, Startup Capital Ventures, Anthem Venture Partners, Wavemaker Partners and Simon Equity Partners.
RTL had already led a $15m series A round for the company in 2015 with contributions from Startup Capital Ventures, Anthem Venture Partners, Simon Equity Partners, Third Wave Capital, Wavemaker Partners and ZenShin Capital. The latter five had supplied $2.2m in seed capital for VideoAmp in 2014.
