Arlington's ad-tech platform Veenome – the 21st century advertiser's dream tool – announced Tuesday closing a $1 million round of funding. The funding comes on the heels also of the company's recent launching of its dashboard, a way to make its video insights more actionable for users.
These days, the Web contains a plethora of video to and entertain and inform us. Just last week, Sandvine released a study claiming that more than 50 percent of Internet users during peak time spend it on YouTube and Netflix. With so many eyeballs fixed upon computer screens, videos are valuable tools through which advertisers can gain access to an influence. Surely you've seen those annoying video ads you have to watch before your YouTube video loads. But how can they tell what's working and what's not? Veenome's API does this for them.
The most recent round of funding comes from a mix of former and new investors, according to the Potomac Tech Wire, like Clay DeGiacinto, who manages the hedge fund Axonic, and Ahmed Al Darmaki, who was formerly one of the largest shareholders in Tesla. Prior to this, Veenome raised $1.1 million in separate seed and angel rounds from investors like India Venture Partners, the Center for Innovative Technology, Dingman Center Angels and private angel investors from Google.
The earlier funding made it possible to launch Veenome's dashboard platform, which founder Kevin Lenane said they have already launched to several customers, giving them data "in a digestible format to provide actionable insights." This funding, he added, will help them keep expanding the business and growing technology development teams. Veenome has also recently made a key hire, onboarding Terrence Rooney, formerly of Tremor Video, to its business development staff. In total, Veenome has raised $2.1 million to date.
