The subscription analytics firm Antenna Data, which tracks subscriptions and viewership data for major streaming services, has raised $10 million in a new Series A funding round.
The round is being led by Bertelsmann’s venture arm, Bertelsmann Digital Media Investments, which is joined by UTA Ventures, SK Ventures, Grit Capital, Hyper, Imagination Capital and Waverley Capital. Raine Ventures, which led a $4.2 million seed round in December 2020, is also participating.
The company will use the new funding “in order to grow headcount, expand coverage, and enrich data, in order to replicate its success across a multitude of subscription categories,” it said Tuesday.
Related Stories
“The rise of the Subscription Economy is one of the most important impacts of the digital transformation,” said Jonathan Carson, co-founder and CEO of Antenna, in a statement announcing the Series A round. “Across video, audio, gaming, health and wellness, education, apparel and more, we are seeing a rise of exciting new consumer brands who use the direct-to-consumer model to build long-term allegiances with their customers.”
Antenna has become a critical partner to marketers and streaming companies eager to figure out just how successful streaming content is in driving subscriptions or other consumer products. UTA became a client after a studio wanted to move a film from a theatrical release to PVOD, and the agency wanted a way to figure out how much value the film would drive in that format.
“We are impressed by the commercial traction that Antenna has gained so quickly, and the strong reputation they’ve garnered in the industry with marquee customers,” said Sim Blaustein, partner at BDMI, in a statement. “As they expand their capabilities and coverage to new areas, we are even more excited about what’s to come.”
