Veenome Inc, an Arlington, VA-based platform that turns video into data, has announced that it has successfully raised USD 1 million in funding. Its new investors are the managing principal of Axonic Capital LLC, Clay DeGiacinto and former Tesla Motors board member Ahmed Al Darmaki.
For a more technical explanation, Crunchbase provided us with a more complete intro about the company: Veenome automatically translates videos into data at a very large scale to help Ad Networks and Publishers lift their CPMs through targeting, reduce fraud through viewability detection and eliminate brand safety or objectionable content concerns.
Chief Executive Kevin Lenane, stated that the company have rolled out a new dashboard that consolidates data and insights from all three of its platforms. Each could provide a different sort of intelligence on online video content. This then provides publishers a better way to understand their campaigns and content.
The funds secured would be used to expand its business and at the same time, further develop its team. So far in total, Veenome has raised USD 2 million up to date. This was considered quite impressive for the company have stayed fairly lean all the way, operating only with a staff of 7 out of UberOffices.
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