S4S Ventures, which was co-founded by advertising magnate Sir Martin Sorrell, and a Bertelsmann subsidiary are leading a capital round for the New York-based startup.
This week, a venture capital fund funded by advertising magnate Sir Martin Sorrell will announce its first public investment in a digital asset management platform in the United States.
S4S Ventures, which was founded by Sir Martin this year, and Stanhope Capital Group are jointly driving Tenovos’ $10 million Series B fundraising.
BDMI, the corporate venturing arm of German media behemoth Bertelsmann’s Bertelsmann Investments, is also jointly heading the round.
Tenovos is a New York-based software-as-a-service provider formed in 2018 by industry veterans D. Scott Bowen and Sal Hakimi.
Amazon, the beverage producer Brown-Forman, Marvel, and Mattel are among the clients of this company, which helps brands streamline and automate the typical challenges of developing and activating global content.
Tenovos’ recent expansion has been bolstered by industry tailwinds as rising data and privacy regulations have compelled multinational corporations to leverage creative content to create personalized digital experiences for their client bases.
Existing investors, such as Progress Ventures, Revel Partners, and Dublin Capital, are said to have participated in Tenovos’s fresh funding round.
Sir Martin, founder, chairman, and co-founder of S4 Capital and Ventures stated: “At S4S Ventures, we think that information gained from the convergence of content and data is essential to the success of contemporary marketing.
Tenovos equips marketers with both data and insights to ensure that their creative assets have an impact on engagement, loyalty, and revenue, yet many firms continue to utilize DAM platforms that lack both.
Co-founder and managing partner of S4S Ventures, Sanja Partalo, added: “Every company must lay the groundwork for intelligent content automation at scale.
Tenovos impressed us with its analytics features that enable data-driven content development and its deployment speed.
The extra money will be utilized to expedite product development and worldwide expansion.
Mr. Bowen, the chief executive officer of Tenovos, stated, “Our aim for the future of DAM is to make it a core technology within the martech [marketing technology] ecosystem, as well as the system of record for all content producers and performance-related metrics.”
