Streaming video network Tout announced today that it has closed an oversubscribed $26 million Series C financing round led by the Melohn Group.
Participants in the round also include existing investors Seavest Capital, 819 Capital and the WWE, and new investors Windsor Media, Pittco Capital and HL Capital.
Based in San Francisco, Tout is a technology spin-out of SRI International (Stanford Research Institute) that serves contextually relevant video programming to online consumers based on the page or article they are consuming at that moment. It delivers hundreds of channels of news, sports and entertainment video from more than 200 content partners including Fox Sports, WSJ, CNN, CBS, Scripps, Conde Nast and Bloomberg across more than 2,800 websites that collectively have over one billion visits monthly.
According to the company, over the past 30 days it has delivered over 350 million videos to more than 57 million unique viewers, making it one of the top 5 advertising-supported video networks online in the U.S.
Tout recently launched the ability for media partners to live stream content event across its network. It will use the new financing to expand its business development and sales operations to grow its the publisher base in the U.S., launch new audience targeting capabilities, and expand into the international market.
“We are currently witnessing one of the most profound shifts the media industry has ever experienced, as the internet essentially becomes TV,” said Tout founder and CEO Michael Downing in a statement. “From day one, this team has been committed to building out one of the largest online video content networks to assume a critical position in this emerging landscape. We welcome our new investors as they join us on this adventure.”