ZypMedia, Inc. (FKA ExtendTV), a San Francisco, CA-based programmatic media-buying platform for local advertising, completed $4.4m in Series B funding.
The round was led by Sinclair Broadcast Group, Inc. (NASDAQ: SBGI), with participation from existing investor U.S. Venture Partners. In conjunction with the funding, Rob Weisbord, Chief Operating Officer of Sinclair’s Digital Group, will be joining the ZypMedia Board of Directors.
The company intends to use the funds to develop its proprietary platform as well as rollout nationwide its product and services.
Led by Mark Goldman, Co-Founder and Chief Executive Officer, ZypMedia provides a technology platform designed to optimize performance and delivery of local advertising campaigns. Concurrent with closing the funding round, the company signed a long-term commercial agreement with Sinclair, a television broadcaster, to provide programmatic media buying services to local advertising clients through Sinclair’s more than 2,500 salespeople in 79 markets.
Through collaborations with companies including Google’s DoubleClick Ad Exchange; Liverail (Facebook); MoPub; Nielsen; eXelate, a Nielsen Company; SpotXchange; Rubicon Project; Pubmatic; Millennial Media Exchange; Opera Mediaworks Ad Exchange; Inneractive; Vdopia; and AdRise, ZypMedia can access a wide selection of brand name and websites, mobile and connected TV apps, and tap into 3rd party data sources.