Sir Martin Sorrell’s venture fund backs US digital asset management firm
A venture capital fund backed by Sir Martin Sorrell revealed its first public investment in a US digital asset management platform this morning.
In a statement, S4S Ventures announced that it had co-led a $10m Series B investment round alongside Bertelsmann’s BDMI for Tenovos, a New York based software-as-a-service provider.
Tenovos helps clients streamline and automate the creation and activation of global content, counting the likes of Amazon, Mattel and Marvel as clients.
Discussing the round, Sorell, who is both the mastermind behind WPP and S4 Capital, said the combination of data and content was “foundational to modern marketing success”.
Tenovos has continued to grow thanks to the wider push for more personalised online content for brands.
The funding will be used for product development, as well as expanding globally.
CEO at Tenovos D. Scott Bowen said: “Our vision for the future of DAM is to make it a foundational technology within the martech ecosystem, and the system of record for all content productivity and performance-related data.
This vision is closely aligned to S4S Venture’s and BDMI’s focus on data-driven technologies focused on content, and we’re excited to realize it together.”