Clypd, a sell-side programmatic advertising tech company, has landed a $19.4 million Series B round led by RTL Group with help from Atlas Venture, Data Point Capital, Duke University, TiVo, Transmedia Capital and Western Technology Investment.
Clypd, which announced a programmatic TV partnership with TiVo in late March, said it will use the new funding to build the development of programmatic TV technology and help the company expand into new markets, including Europe and Asia Pacific.
Clypd, one of a growing group of companies that are fixating on bridging automated ad buying and selling systems from the digital world to the TV arena, has scored clients that include ESPN, Cox Media Group, Univision, and Discovery Communications. Clypd was founded in 2012.
"clypd is one of the first companies to create a strong platform for programmatic sales for linear TV in the U.S. It offers a unique set of tools to the market at a crucial time, when programmatic video sales are growing rapidly," said Rhys Noelke, VP of business development at RTL Group, in a statement. "clypd adds key TV sales competencies that will offer groundbreaking solutions for TV advertisers. We see great potential in the company -- in both the U.S. and Europe."
"clypd is moving the industry forward by enabling data-driven TV ad sales and delivering actionable insights. We are at a turning point in advertising and clypd has the potential to help TV media owners understand their inventory and audiences in a way never done before," added Jonathan Steuer, TiVo's chief research officer Jonathan Steuer. "TiVo's strategic investment in clypd represents the incredible potential we see in their platform."