The funding comes a little under a year after Outrigger Media's initial launch of OpenSlate Studios, the platform for connecting brands and content around video-centric data, and will be used toward further development. OpenSlate currently analyzes content from more than 8,000 producers in a limited-release Alpha. The Company plans a Beta release of the platform in late April 2012.
"Outrigger has a long history of helping producers and advertisers leverage the unique connection between video content and audience," said Mike Henry, Outrigger's founder and CEO. "OpenSlate will be a powerful tool to allow content and brands to connect at scale. We're excited to be working with the team at Spring Mountain as this transformative product comes to life."
SMC made the commitment through its SMC Select Co-Investment Fund I. Financing terms were not disclosed. With the investment, SMC Managing Director Avi Faliks, Ph.D. has joined the company's Board of Directors. Spring Mountain is a private investment management firm that focuses on alternative asset investing and offers investors a wide range of strategies designed to produce attractive risk adjusted returns.
Spring Mountain's Dr. Faliks said, "The team at Outrigger Media has a track record of success and a deep understanding of the dynamic online video space. Online video is still a young and evolving market. We believe that the OpenSlate platform is necessary to bring efficiency and introduce standards for both producers and advertisers."
Outrigger Media develops products and services for the online video ecosystem. Since launching in early 2009, the Company has worked with a wide range of producers and dozens of blue chip advertisers. With OpenSlate, Outrigger will introduce a new measure for valuing the distinct relationship between content and audience.
ABOUT OUTRIGGER MEDIA
Outrigger Media Inc. is a leading online video advertising company focused on connecting brands with meaningful video content. Since 2009, the company has partnered with a wide range of professional producers and aggregators, as well as with some of the biggest marketers in the world. The company's focus on developing better contextual relevance between video content and campaign messages has led to the development of OpenSlate Studios, a data and marketplace platform connecting innovative brands and qualified producers at scale. With OpenSlate, Outrigger is introducing a new measure for valuing independent video content. For more information, visit www.OpenSlateStudios.com.
ABOUT SPRING MOUNTAIN CAPITAL
Founded in 2001 and located in New York, New York, Spring Mountain Capital, LP ("SMC") is a private investment management firm that focuses on alternative asset investing and offers investors a wide range of strategies designed to produce attractive risk adjusted returns. SMC has a dynamic and opportunistic mindset with a client oriented focus that drives it toward providing investors with intelligent and sophisticated investment opportunities. Based on its extensive network of personal and professional relationships, SMC is constantly searching for insightful investments from a wide range of sources. For further information, please go to www.springmountaincapital.com.
SOURCE Outrigger Media