Mediamorph, the digital media tech company which counts John Malone's Liberty Global Ventures as a stakeholder, said on Monday that it had raised $21 million in new financing from investors including Bob Wright, the former chairman of NBC Universal.
Co-founded by Shahid Khan, eight-year-old Mediamorph operates as a conduit between content companies and distributors, using cloud-based software to track viewer consumption and user data to facilitate contracts and better attract advertisers. New York-based Mediamorph also manages the content rights of deals between the TV and film companies and their cable-TV, satellite and digital distributors.
Mediamorph's third round of financing was led by Advance Vixeid Partners, a private equity firm connected with Advance Publications, and senior advisers to Lee Equity Partners, including Wright and Barry Baker, former president of USA Networks, the cable-TV company owned by Comcast's (CMCSA - Get Report) NBCUniversal.
Previous investors Liberty Global Ventures, a unit of Liberty Global (LBTYA) , and London-based Smedvig Capital also participated in Mediamorph's third round of financing. Mediamorph's clients include Time Warner's (TWX) HBO, Viacom (VIAB - Get Report) , Discovery Communications (DISCA - Get Report) and BBC Worldwide. In all, its customers comprise eight of the largest U.S. film and TV studios and four of seven largest cable-TV and satellite companies.
The new round of financing will be used to expand Mediamorph's operations to serve in Europe, Latin America and Asia, said Khan, its founder and chairman. The company, he said, remains in a growth phase.
"At some point there will be an exit but right now its all about building the customer base, gaining scale and profitability," Khan said in a phone interview in New York.
Mediamorph also enlarged its board of directors to include Baker, Nomi Bergman, president of Advance/Newhouse Partnership and Liberty Global Managing Director Bob Greene.