European entertainment network RTL Group led a $15 million series A round of funding for VideoAmp, a Santa Monica-based cross-screen tech company. VideoAmp helps media buyers buy and
optimize audiences across screens, including digital, over-the-top TV and mobile.
The funding will go toward
building out VideoAmp’s staff and product development.
Video consumption has changed dramatically in recent years, especially with mobile driving some significant changes There is also a
simultaneous rise of programmatic advertising — IHS forecasts that the European programmatic video market will reach $2.2 billion by 2020.
Already, almost a quarter of video ads served
in Europe are served programmatically. But Europe’s potential growth aside, the U.S. is still the breadbasket of the video ad market.
eMarketer predicts that 39% of U.S. digital video ad
dollars will be spent programmatically this year. By 2017, however, that portion will move closer to the broader average for programmatic activity (72%), accounting for 65%, or $7.43 billion.
RTL Group has invested in a number of digital video companies recently, and the addition of a technology that can reach across video screens ups the strategy of tracking consumers across devices.
VideoAmp’s tech is delivered via APIs, which customers and partners can develop.
“The market has signified an urgent need to unify messaging and drive efficiency in brand
advertising. This funding validates that it’s a global trend,” stated Jay Prasad, chief business officer, VideoAmp.
Rhys Noelke, SVP strategy, RTL Group, will join
the VideoAmp board of directors as part of the deal.
Anthem Venture Partners, Simon Equity Partners, Third Wave Capital, Wavemaker Partners, ZenShin Capital and Startup Capital Ventures
also participated in the round.