Vadio, a Portland, Oregon-based distribution platform for music video content and ads online, closed a $2m seed funding round.
Backers included Ed Wilson, former President of NBC Enterprises; Robin Richards, former CEO of Vivendi Universal Net USA; Marc Geiger, Co-Founder of Lollapalooza and Partner at William Morris Endeavor; Irwin Federman, Partner at US Venture Partners and former board member of the National Venture Capital Association; Mucker Capital; and Amplify.LA.
The company intends to use the funds to further scale operations.
Led by CEO Bryce Clemmer, Vadio operates a platform to enable online streaming music services, traditional radio stations and other entertainment sites to play music videos and to serve video ads. The company’s technology detects what songs listeners are playing live and then plays the corresponding music videos in real-time. Streaming music and terrestrial radio stations can embed channels into websites, mobile applications, and other digital platforms to create a curated feed of music videos that helps increase user engagement and creates new video ad inventory.
Through its partnerships with streaming entertainment platforms, Vadio is able to provide strong distribution to content owners while creating and managing video advertising inventory. Its services are currently available in fifteen countries across the globe and recently launched in Australia with Lachlan Murdoch’s Nova Entertainment.
The company also launched a partnership with Vevo, the all-premium music video and entertainment platform, which added to the ones with Virgin Radio, European Media Group and Grupo Radio Centro.
Vadio also has an office in Los Angeles, CA.