Video monetization technology company FreeWheel today announced it has closed $16.8 million in strategic institutional funding. New investor Steamboat Ventures, a venture capital firm affiliated with The Walt Disney Company, joined existing investors Turner Broadcasting System, Inc., Battery Ventures, and Foundation Capital to complete the round.
For those of you unfamiliar with their offering, FreeWheel’s technology enables content distributors to manage ad sales rights, produce accurate inventory forecasts for live or on demand content, deliver a yield-optimized set of ads, and analyze video business performance. Their Monetization Rights Management (MRM) platform provides capabilities developed to address TV Everywhere initiatives, including advanced commercial break pattern management.
Some of Freewheel’s notable clients include Turner, VEVO, MLB.com, Revision3 and Discovery Communications.