VideoAmp is the latest startup trying to move TV ad dollars online.
The startup is officially launching today, and it’s also announcing that it has $2.2 million in funding from Anthem Venture Partners, Simon Equity Partners, Third Wave Capital, Wavemaker Partners, and ZenShin Capital.
Co-founder and CEO Ross McCray is disgustingly young (23), but he already has experience in the video ad world, having served as head of product and technology at the Channel Factory. He told me that TV advertisers are getting more sophisticated about how they spend online â€” they started out by just treating it as an afterthought to their TV campaigns, but now Nielsen is starting to measure cross-platform campaigns.
What’s still missing, McCray argued, is “cross optimization” â€” in other words, using data from one platform to influence buying on another. In VideoAmp’s case, that means taking data about an advertiser’s TV campaign and finding the point “of diminishing returns,” where they’re just paying to reach the same people over and over. VideoAmp suggests how the advertiser can move that spending into online video to reach a de-duplicated/non-overlapping set of viewers.