Clypd, founded by the creators of Paypal-acquired WHERE, has raised $7.2 million in series A-1 funding, gathering cash from Atlas Ventures, Freestyle Captial, and Boston Seed Capital. John Battelle was an angel in the round.
The company wants to make it easier for advertisers to buy small chunks of TV air time as small as 15 seconds long. By partnering with channels, Clypd will be able to allow TV channels to sell “open” airtime to smaller customers.
“This empowers the supplier to preserve and control the value of that inventory while taking advantage of more advanced technologies,” said co-founder Joshua Summers. The team has gathered engineers and execs from the TV industry over the past year.