Tynt Raises $8m in Venture Capital to Fuel Growth in Web 2.0 Content Sharing Analytics
New investment Led by Panorama Capital
CALGARY, April 19, 2010 – Tynt Multimedia Inc. (www.Tynt.com), the rapidly growing leader in user engagement measurement and developers of the Tynt Insight content sharing analytics service, today announced the closing of $8M of additional venture capital financing from leading venture firms and private investors from the US and Canada. The financing will be used to introduce new products, expand sales and marketing, particularly in Europe and Asia/Pacific, and drive multiple new partnerships.
Lead by Panorama Capital, the round involves a number of notable investors including Greycroft, Metamorphic Ventures, iNovia Capital, Disruptive Ventures, Newport Coast Investments (Chad Steelberg), W Media Ventures (Boris Wertz), Joe Apprendi (Collective Media), Allen Morgan (Mayfield Partners), Erik Matlick (Madison Logic), and Yen Lee (Uptake.com). With, Tynt’s prior funding, this new investment brings total invested capital in Tynt to approximately $12M.
“In our opinion, Tynt is the early leader in the next huge wave of web engagement analytics for content publishers across every industry. What they are doing is already proving to be highly valuable to major publishers and content owners”, said Chris Albinson, Partner at Panorama Capital. “Their early lead in this space has enabled them to identify big new opportunities, and we expect that they will be able to continue to do so, building significant value along the way. Needless to say, we are very pleased to be leading this round.”
Through its unique way of anonymously detecting copy and paste behavior on any website, Tynt Insight enables online content owners to indentify, with pinpoint accuracy, exactly which content their visitors find most engaging, and how they are sharing it. Tynt Insight ensures visitor privacy by tracking only content; it does not capture any identifiable information about the site visitor.
Tynt Insight goes further in providing tools that let site owners leverage the content being shared from their site to drive incremental traffic, higher SEO and drive higher revenues. Tynt Insight is already deployed on hundreds of thousands of sites worldwide, including many high profile sites such as Sports Illustrated, New York Daily News, TIME magazine and SFGate.com.
”Tynt Insight’s unique content sharing analytics is allowing publishers and content owners to see engagement patterns they have never seen before. As a result, we’ve seen extremely strong growth in use over the past six months and this financing will enable Tynt to further accelerate”, said Derek Ball, CEO and co-founder of Tynt. “We are very proud to have attracted such an impressive list of investors for this round. It’s gratifying to know these savvy investors see the same huge potential we do.”
Tynt also announced that Chris Albinson of Panoram Capital will be joining its Board of Directors, and Michael Jones, Co-president of MySpace, will join Tynt’s Board of Advisors.
About Tynt Multimedia
Founded in 2007, Tynt develops leading-edge user engagement solutions that allow online publishers to increase site visits, user engagement and maximize revenue, through deep insight into how their content is being consumed and shared. Tynt’s unique technology anonymously captures data on all copy activities, providing pinpoint accuracy on what content is most engaging, and drives incremental site visits through automatic attribution links when copied information is pasted. For more information, visit www.tynt.com.
About Panorama Capital
Panorama Capital is a venture capital firm focused on investments in emerging life sciences and technology companies. The firm’s areas of focus include enterprise infrastructure, consumer services, semiconductors, mobile technologies, and biotech. Panorama’s investment team has a singular focus: helping entrepreneurs build market-leading companies. Panorama invests in entrepreneurs and teams who share its values: a passion to build great companies; an unyielding focus on people and teamwork; and a commitment to integrity. Panorama’s philosophy is to make that same commitment to the teams it supports, over and above its financial investment, and to take a hands-on, highly collaborative approach to investing, bringing to each portfolio company the team’s extensive operating and investing experience. More about Panorama at www.panoramacapital.com.
About iNovia Capital
iNovia partners with exceptional entrepreneurs to build successful companies in high growth sectors. The team is comprised of entrepreneurs and sector experts focused on Mobile, Internet and Digital Media. iNovia has $165M under management across two seed and early stage funds. For more information, visit www.inoviacapital.com or follow iNovia on Twitter at http://twitter.com/iNovia.
Tynt Multimedia Inc.