VideoAmp Inc. announced that it closed a $275 million Series F funding round.
The Sawtelle-based software and data company made the announcement Oct. 21, reporting a $1.4 billion valuation after completion of the round.
 
New investors in VideoAmp include three New York City-based firms — Spruce House Partnership, D1 Capital Partners and Tiger Global Management —  and two firms from San Francisco, Epiq Capital Group and Ankona Capital Partners.
 
With the announcement, the company also reported an exponential compound annual growth rate of 100% for the last five years.
VideoAmp said it plans to use the funding to speed up the rollout of its media measurement software across traditional television broadcasters, streaming services, digital content providers and social media platforms.

“While the ability to consume content on any device at any time is great for the consumer, the legacy media measurement and currency systems powering these services are fragmented, riddled with complexity and inaccurate,” Ross McCray, VideoAmp founder and chief executive, said in a statement.
 
VideoAmp created its platform seven years ago to generate more multidimensional advertising and engagement data. The company’s software is designed to provide a more accurate portrait of value to increase returns on media investments for advertisers and create more revenue for publishers, all while improving the viewing experience for consumers.
 
The company’s latest funding round follows a series of announcements for high-
profile new hires and business partnerships. This year, the company brought in Paul Ross, former chief financial officer at Trade Desk, as chief financial officer; Tony Fagan, former vice president of engineering at Google, as chief technology officer; and Cameron Meierhoefer, former chief operating officer at Comscore Inc., as chief product officer. VideoAmp also became Facebook Inc.’s official multitouch attribution measurement partner.

The $1.4 billion valuation underscores the company’s progress as a self-described disruptor to the U.S. advertising market, which, according to Statista, is projected to generate more than $282 billion in spending just in 2021.
 
In late September, media giant ViacomCBS Inc. tapped VideoAmp for ad campaign measurements and audience predictions, following NBCUniversal’s request just a week earlier for the company to submit measurement alternatives that can provide a unified look at viewership across streaming, mobile, desktop and linear.
 
Demand for the company’s platform highlights the media industry’s appetite for new technologies to track profitability as well as its decreasing reliance upon Nielsen Holdings Inc., once the standard-bearer for market measurements. 

Recent stumbles, such as the 98-year-old firm losing its national TV rating accreditation from the Media Rating Council in September after underreporting viewers during the pandemic, have further given companies like VideoAmp a foothold to challenge Nielsen’s position as a go-to data source.