Veritone successfully completed a $15 million brokered equity financing round. A total of seven investors started to subscribe to the round on July 15th. The private placement’s expected net proceeds amounts to $14.93 million which excludes $75,000 paid in brokerage fees. No offering was previously initiated by the company under a registration exemption with the SEC.
Veritone markets and develops cloud-based solutions for broadcasters and advertisers that deliver real-time audio and video processing, audience analytics, and search, retrieval, replay and share capabilities. The company also provides visual and audio discovery applications for Internet users to find, curate and share relevant or interesting content. The company is backed by NCI and Brand Affinity Technologies.
The company, headquartered in Newport Beach CA, was registered this year. Revenues were not disclosed.
The executive team includes Chad Steelberg and John M Markovich.
The board of directors includes Christopher Oates, Nathaniel Checketts, Richard Dallas and Ryan Steelberg.
Amount offered: $15 million
Amount placed: $15 million
First sale: 07-15-2014
Data as of: 07-30-2014