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Veenome Raises $1 Million

11/20/2013

Veenome Inc. has raised $1 million from new and existing investors, besides releasing a new product to help monitor effectiveness of online video ads, a report said. The latest round raised to $2.1 million the venture funds the Arlington company has raised.

New investors include Clay DeGiacinto, managing principal of New York-based Axonic Capital LLC, and former Tesla Motors board member Ahmed Al Darmaki, the Business Journal said. Previous investors include India Venture Partners, the Center for Innovative Technology, Dingman Center Angels and angel investors from Google.

Veenome’s ad-tech platform 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/objectionable content concerns.

The company’s new dashboard consolidates data and insights from the startup's three products, each of which provides different sorts of intelligence on online video content, the report said. The dashboard gives ad networks a platform to monitor and audit publishers, while providing publishers a better way to better understand their own content, CEO Kevin Lenane told Business Journal.

Veenome, which currently has a staff of seven out of Rosslyn's UberOffices, will likely add three employees subsequent to the funding.

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