The round was led by Scott Savitz of Data Point Capital and Ryan Moore of Atlas Venture. The company also attracted a number of notable angel investors, including executives from WHERE and the PayPal Media Network, Springpad, and Trident Ventures.
Details on Clypd’s product are still a bit scarce, but investor Rich LeFurgy described the company in a statement as “providing closed-loop advertising solutions while delivering contextually relevant ads anywhere video is consumed.” A Clypd advisory member also explained that the company will offer “real-time bidding using deeply contextual information and interactive placements.”
Boston Globe reports that the Cambridge-based startup had been hoping to raise $5 million in recent months. Insiders suggested that the company is interested in tracking household demographic data as it relates to TV watching. That information could then be used to let advertisers bid to display ads.
A company press release provided the following list of angel investors:
- Adam F. Berrey the former SVP Marketing & Strategy of Brightcove
- Ric Calvillo the CEO of Nanigans
- David S. Chang the COO of the PayPal Media Network
- Jeffrey Chow the CEO of Springpad
- Ernie Cormier the CEO of Nexage
- Walter Doyle the CEO of WHERE and GM of the PayPal Media Network
- Mike Garrido the President of Trident Ventures
- Rich LeFurgy General Partner of Archer Advisors and the Founding Chairman of the IAB
- Jennifer Lum the President of Adelphic Mobile
The pedigree of its investors suggests that Clypd has already generated plenty of industry interest, so we’ll definitely be keeping an eye on this company. After all, television ads could certainly stand for a bit of disruption.
Image credit: Paul Tearle