Tout Takes $26M in Funding, Will Expand Biz-Dev and Sales
Tout announced that it has taken in $26 million in series C funding, in a round led by Melohn Group. New investors Windsor Media, Pittco Capital Partners, and HL Capital, as well as existing investors Seavest Capital, 819 Capital, and the WWE took part. This brings Tout's total funding to $40 million.
The company has ambitious plans for the funds, such as expanding its business development and sales operations in the United States, creating new methods for media clients to target their chosen audience, and expanding into international markets for the first time.
Tout offers a video syndication service for publishers and advertisers, placing contextually relevant videos on premium sites while delivering targeted viewers for advertisers. The company counts CBS, CNN, Fox Sports, Condé Nast, Bloomberg, and Hearst as clients, and syndicates videos to a network of 2,800 news, sports, and special interest sites.
StreamingMedia.com first reported on Tout in 2011 when it was one of many competitors trying to create a video version of Twitter.
"From day one, this team has been committed to building-out one of the largest online video content networks to assume a critical position in this emerging landscape," says Tout founder and CEO Michael Downing. "We welcome our new investors as they join us on this adventure."
Free iPhone app and video platform makes online video social; limits uploads to 11 seconds in length.