Zype Announces Close of $3.6M Seed Financing Round
New York, New York (PRWEB) August 02, 2016 -- Zype, the cloud video distribution service for OTT, announced today that $2 million has been added to the initial raise of $1.6 million that was announced in October of 2015. The seed financing has been closed with a final amount of $3.6 million in a round led by Revel Partners. Other investors include Point Nine Capital, Alpine Meridian Ventures, Berlin Ventures, Entrepreneurs Investment Fund, and Terrapin Bale Ventures. The additional funds will fuel research and development, as well as sales and marketing initiatives to capitalize on the Company’s recent growth. In 2015, Zype saw revenue increase by 229%, with new customer acquisition growing by 327%. Over the last 12 months, Zype has seen 40% quarter over quarter growth and recurring revenue has more than quadrupled. Year to date, the number of live OTT apps in the marketplace from Zype customers has already doubled to over 100.
“Zype offers a simple, powerful, scalable solution for enterprises that want to build a direct-to-consumer video business,” said Ed Laczynski, Founder and CEO of Zype. “Our customers love that we’ve taken the existing complex video business supply chain and ecosystem and made it easy to drive successful results. The enthusiastic support of the investment community, coupled with the staggering growth we've experienced over the last year, is a testament to the voracious appetite of video distribution and marketing leaders to own their data, own their audience and have full control of their revenue.”
The Zype management team has been reinforced with the addition of industry veteran AJ Vernet — formerly of DoubleClick, Sizmek, and Digital Broadcasting Group — as Chief Revenue Officer.
"AJ has a proven track record building and operating a sales strategy in this space and we are proud to have him on our team. He understands how content owners and brands can take advantage of the opportunities that the transformations of cordcutting and app store economy present,” Laczynski added.
Zype provides their cloud video distribution technology to such diverse content owners as Mill Creek Entertainment, What’s Trending, and The Rebel Media, a conservative Canadian online political and social commentary media platform.
“There is real money to be made in OTT if you have the right system in place,” said Hamish Marshall, Member of the Board of Directors with The Rebel Media. “We have acquired over five thousand paid subscribers since our launch in March of this year and Zype's software as a service platform has played a major role in our ability to cultivate and maintain our subscriber base. A significant part of our audience is older consumers, many of whom use legacy browsers that require troubleshooting to ensure they can watch our content. Zype's outstanding and responsive customer success team has helped us to help our customers, which has absolutely led to high subscriber retention."
“If Zype had existed in 2008, the video landscape would look very different today,” said Chris Young, Partner at Revel Partners. “Zype was created to address the pain points of multi-platform publishing and it’s becoming the cloud video service of choice for content owners seeking a one-click solution to publish their content and manage their subscribers, while keeping up with the proliferation of new platforms that seem to pop up every month.”
About Zype
Zype is the cloud video distribution service for OTT that makes it easy for content owners to connect directly with their audiences on every screen. With Zype, enterprise content owners and brands can own and accelerate all aspects of their video distribution pipeline. Zype provides push button app publishing, monetization, streaming, audience management, and analytics that is integrated into hundreds of OTT apps and engaged by millions of viewers every month. Launched in 2014 and headquartered in New York with offices in Los Angeles, Zype is the 2015 SXSW Accelerator winner in the entertainment and content technology category.
http://www.zype.com
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Media Contact:
Pete Holmberg / Zach Williams
Code Morris
pete.holmberg(at)codemorris(dot)com / zach.williams(at)codemorris(dot)com
917-501-7434
Pete Holmberg, Code Morris, http://www.zype.com, +1 (917) 501-7434, [email protected]
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