Tout Announces Oversubscribed $26MM Series-C Financing To Fuel Growth As Company Nears Profitability
SAN FRANCISCO, Oct. 3, 2016 /PRNewswire/ -- Next-Generation Streaming Video Network Tout, announced today the closing of an oversubscribed $26MM Series-C financing led by the Melohn Group in New York, and including new investors Terry Semel's Windsor Media, Pittco Capital Partners and HL Capital - who were joined by existing investors Seavest Capital, 819 Capital, and the WWE.
Tout now powers all video programming across more than 2,800 websites and counts more than 57MM unique video-viewers who now consume more than 350MM videos per month across the network, giving Tout one of the largest online video audience footprints outside of YouTube and Facebook.
"We are currently witnessing one of the most profound shifts the media industry has ever experienced - as the Internet essentially becomes TV" - said Tout Founder & CEO Michael Downing, "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 - we welcome our new investors as they join us on this adventure."
Tout is a technology spin-out from SRI International (Stanford Research Institute), and has built-upon SRI patented technology to help websites deliver a targeted premium video experience to their visitors based on contextual relevance and individual affinities. Over 200 leading media companies across news, sports and entertainment maintain content channels on Tout including CBS, CNN, Fox Sports, Conde-Nast, Bloomberg, Hearst and many others. Tout recently launched the ability for media partners to live-stream any news, sports or special event across the Tout publisher ecosystem of 2,800 websites.
With this new round of financing, Tout will be expanding business-development and sales operations to further grow the publisher base in the US, launching new audience-targeting capabilities for media partners seeking audience-extension and kicking-off the first international market expansion.
About Tout
Tout is a next-generation streaming video network that powers all video programming across thousands of websites that collectively have over one billion visits monthly. Tout delivers hundreds of channels of top news, sports and entertainment video from the biggest names in media including Fox Sports, WSJ, CNN, CBS, Scripps, Conde Nast, Bloomberg and many others. By providing sophisticated technology and world-class video programming, Tout enables online publishers to successfully cater to a more video-centric consumer base. In the past 30-days Tout delivered over 350 million videos to more than 57 million unique viewers, making it one of the top 5 advertising-supported video networks online in the U.S. Tout is a technology spin-out of SRI International (Stanford Research Institute). The company is based in San Francisco, Ca.
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SOURCE Tout
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