SAN FRANCISCO, Oct. 30, 2018 /PRNewswire/ -- ZypMedia (zypmedia.com), creator of the AI-powered, local-first programmatic advertising platform built specifically for media companies, announced today the successful completion of Series C funding totaling $5.6 million. The capital raise was led by Archer Venture Capital, and included existing investors U.S. Venture Partners (USVP) and Sinclair Broadcast Group (Sinclair).
Founded by former college roommates Aman Sareen and Ramandeep Ahuja, who serves as Chief Technology Officer, along with media executive Mark Goldman, ZypMedia is capitalizing on the $150 billion local advertising market being disrupted by a shift in viewership from traditional media to digital and over-the-top (OTT), which is expected to hit 182.6 million connected TV users in 2018. Proceeds from the raise will be used to develop and launch new enterprise products to the platform. The funds will also be used by ZypMedia to double the size of its staff in the U.S. and internationally over the next 12 months.
"We conceived and built ZypMedia to address a large and underserved segment of the advertising sector — local businesses. Utilizing the ZypMedia platform, media companies can offer local advertisers the same buying power as large national brands, enabling them to participate in the digital media and OTT revolution," says Aman Sareen, Co-Founder and Chief Executive Officer of ZypMedia.
ZypMedia went to market four years ago and quickly secured significant partnerships with Sinclair and other well-known media companies. The Company not only provides best-in-class local advertising technology, but also works with media companies to provide staff training, customer support and backend operations. This customer-centric approach allows its partners to quickly and profitably augment traditional advertising offerings with digital solutions that reach new audiences. ZypMedia has emerged as the clear leader in local digital and OTT advertising, sitting squarely at the cross section of technology and media.
"ZypMedia has enabled us to diversify our offerings for local advertisers," says Sinclair Chief Revenue Officer Rob Weisbord. "The ability to offer our local advertisers cutting-edge products such as OTT is very powerful as it allows them to complement their linear television buys, leveling the playing field and putting them on par with national advertisers. Most importantly, ZypMedia helps us empower local advertisers to effectively engage with their audiences across all devices."
"Not only have Aman and Ramandeep created a superior tech stack for delivering local advertising, they've also developed a really smart and defensible business model, partnering with local media companies to act as their direct sales force," says John Hadl, Managing Director of Archer Capital.
"We are looking for companies with unique technology in large, underserved markets," says Greg Martin, Managing Director of Archer Capital, who will join the ZypMedia board. "ZypMedia is the only company offering a proprietary full-stack platform built specifically with local advertisers in mind, a massive untapped business opportunity in the U.S., and a game-changer in today's ad tech ecosystem."
ZypMedia (zypmedia.com) is at the cross section of technology and media. Its enterprise software is leveraged by local media companies to navigate the digital shift profitably. The company has built a comprehensive advertising platform – from the ground up – specifically for some of the nation's largest broadcasters and media companies to plan, buy, execute, and manage programmatic campaigns for their local clients across all digital channels, including over-the-top (OTT).