Funding and Layoffs at Measurement Firm VideoAmp
In the US, media measurement, data and software solutions provider VideoAmp has raised $150m in a Series G round of growth funding. At the same time, the firm has laid off about 10% of its workforce.
VideoAmp provides measurement and optimization tools that unify audiences across traditional TV, streaming video and digital media. In place of panel-only solutions for media measurement, planning, optimization and currency, the firm is shifting to large scale datasets which reach nearly 40 million households and more than 60 million devices across the US.
The new funding round, which adds to VideoAmp's $63.86m debt financing last year, was led by Vista Credit Partners (a subsidiary of Vista Equity Partners), and will be used to drive company growth. CFO Paul Ross (pictured) says the round will support the firm's strategy and its 'commitment to both currency and further establishing its overall category leadership'.
At the same time, the company has made 10% of its workforce redundant, affecting more than 45 people. According to various sources, the layoffs suggest VideoAmp needs to cut expenses as it is still not profitable.
Web site: www.videoamp.com .