Zype Announces Additional $2M in Seed Funding, for $3.6M Round
Over-the-top (OTT) video distribution service Zype announced today that it has gained an additional $2 million in seed financing. This is in addition to the $1.6 million it announced in October 2015, for a total of $3.6 million this round.
The funding round was led by Revel Partners, with participation by Point Nine Capital, Alpine Meridian Ventures, Berlin Ventures, Entrepreneurs Investment Fund, and Terrapin Bale Ventures.
Zype will use the funds for research and development. Some will go to sales and marketing initiatives to drive growth.
The company highlights revenue growth of 229 percent in 2015, and new customer growth of 327 percent. The number of live OTT apps that rely on Zype have doubled to over 100 in the previous year.
“If Zype had existed in 2008, the video landscape would look very different today,” says Chris Young, a 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.”
Zype's service is used by enterprise clients interested in selling video directly to consumers. The Zype model removes the complexity of the video supply chain, says company founder and CEO Ed Laczynski, and simplifies it. With Zype, he adds, clients have control over their data, buyers, and revenue.
Customers include Mill Creek Entertainment, What's Trending, and conservative Canadian political platform The Rebel Media. Zype debuted in 2014 and is based in New York City.
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