Announced today, digital network Zefr has raised $30 million in a new round of funding, bringing their total cash investment capital to $60 million.
The Venice-based company received the financing dollars from Institution Venture Partners, a venture capital firm that has previously put money into Netflix, Snapchat, Dropbox and Twitter. Those companies are all billion dollar companies, and Institution Venture Partners is clearly betting that Zefr will be one day too.
Using proprietary technology, Zefr identifies licensed video content uploaded to YouTube and then sell ads against that content for its big media clients. Through the use of its BrandID platform developed last year, the company also tracks how clients’ YouTube marketing campaigns are performing and can then connect those clients with the brands’ biggest YouTube evangelists for potential collaborations.
While Zefr qualifies as a network since it manages many of its clients’ YouTube content — and its own MovieClips channel is one of the most viewed on YouTube — Zefr mainly considers itself a software company, since their biggest selling point is their technology. The aforementioned abilities of its software has made it one of the go-to YouTube tools for businesses, and the bulk of the company’s revenue comes from the licensing of that software.