By Leah Montebello
A venture capital fund backed by Sir Martin Sorrell revealed its first public investment in a US digital asset management platform this morning.
S4S Ventures alongside Bertelsmann’s BDMI co-lead a $10m Series B investment for Tenovos, a New York based software-as-a-service provider, which helps clients streamline and automate the creation and activation of global content.
Tenovos counts the likes of Amazon, Mattel and Marvel as clients, and has continued to grow thanks to the wider push for more personalised online content for brands.
The funding will be used for product development, as well as expanding globally.
Discussing the round, Sorell, who is both the brainchild behind WPP and S4 Capital, said the combination of data and content was “foundational to modern marketing success”.
CEO at Tenovos D. Scott Bowen said “Our vision for the future of DAM is to make it a foundational technology within the martech ecosystem, and the system of record for all content productivity and performance-related data.
This vision is closely aligned to S4S Venture’s and BDMI’s focus on data-driven technologies focused on content, and we’re excited to realize it together.”
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