VideoAmp, a Los Angeles, CA-based adtech company, raised $70m in funding.
The round was led by The Raine Group, which invested $50m in the growth round of financing, with participation from Ankona Capital, which provided $20m.
The company intends to use the funds to scale its enterprise sales by expanding its customer success and data science teams to support demand from marketers, agencies and media owners. In conjunction with the round, media executive Peter Liguori, most recently the President and CEO of Tribune Media, will join the company as a Senior Advisor and the Board of Directors. Erik Hodge, Managing Director and Head of the Raine Group’s Los Angeles office, will also join the Board of Directors.
Led by Ross McCray, Co-Founder & CEO, VideoAmp provides a software platform that enables marketers and media owners to optimize their entire portfolio of linear TV, OTT and digital video advertising by measuring how the ads performed against in-market sales prospects. It then recommends optimizations and automates their execution to maximize return on marketing investment.
The company works with more than 50 Fortune 500 brands, as well as global holding companies, media agencies, and media owners such as: GroupM, Essence, Tyson Foods, Inc., A+E Networks, AMC Networks, and Tubi.