Zefr Takes in $30M in Financing, Will Grow Software Development
Zefr is coming on strong these days. Earlier this week, the brand software-as-a-service (SaaS) and YouTube management platform cracked comScore's monthly online video rankings for the first time (coming in at number ten on the content video chart), and now the company is announcing it has raised $30 million in new financing. The round was led by Institutional Venture Partners (IVP), a new investor, with participation from existing investors U.S. Venture Partners, Shasta Ventures, First Round Capital, and Richmond Park Partners. IVP general partner Dennis Phelps is joining Zefr's board of directors.
Zeft has found big success with its BrandID platform, which helps companies connect to and monetize YouTube fans. With BrandID, companies can locate fan-uploaded content and connect with influencers. Brands can also use it to monitor competitor content. BrandID customers include Adidas, Warner Bros., Saturday Night Live, Sony Music, and Universal Pictures.
The $30 million funding will go toward software development and building up the sales and marketing teams.
Zefr started out as Movieclips, but changed its name and direction in 2012 when it saw an opportunity for helping brands monitor YouTube activity. The company notes that it has grown revenue 100 percent year-over-year for the past three years.
A regulatory filing shows that the YouTube brand management company has raised $5 million in funding, pulling it total funding over $65 million.
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