ZypMedia, the programmatic media-buying platform for local advertising formerly known as ExtendTV, on Wednesday announced it has closed a $4.4 million Series B round of funding led by Sinclair Broadcast Group. U.S. Venture Partners, an existing investor, participated in the round on a pro-rata basis.
Sinclair has also struck a partnership with ZypMedia to use its programmatic media-buying platform for digital advertising in local markets. Per a release, Sinclair had been testing ZypMedia’s platform in three markets prior to committing to a larger partnership. Sinclair claims to reach over 40 million people via digital channels.
“Local businesses are starting to embrace the power of Big Data and programmatic media-buying in a big way,” stated Rob Weisbord, chief operating officer of Sinclair’s Digital Group. Weisbord will be joining ZyMedia’s board of directors.
ZypMedia does not currently support programmatic TV, Real-Time Daily is told, and the Sinclair deal does not currently contemplate its introduction.
Sinclair was not immediately available for comment.