Clypd picks up USD7.2 million in Series A-1 for short TV commercials
Clypd rounded up USD7.2 million in a recent Series A-1 funding round. The new capital came from Atlas Ventures, Boston Seed Capital, and Freestyle Capital. Angel investors Brightcove and John Battelle also participated in the round. This was according to a report published by TechCrunch today.
Clypd is a television advertising startup based in Cambridge, Massachusetts. The firm was founded by the makers of Paypal-acquired discovery and advertising service WHERE. The company markets an advertising platform that is specifically tailored for the television industry, according to the company's website.
The TV advertising platform maker wants to improve the advertising process. The firm plans to offer small bits of television air time to advertisers. This could be around 15 seconds in length. Through its partnership with various channels, Clypd will be able to market open airtime to smaller clients, TechCrunch reported.
Joshua Summers, co-founder of Clypd, said: "This empowers the supplier to preserve and control the value of that inventory while taking advantage of more advanced technologies."