WASHINGTON, DC, ICX Media, a video data intelligence platform company, announced today that it closed a $6.6 million Series A financing round.
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Led by Washington, DC-area venture capital firm Grotech Ventures with participation by Richmond-based NRV, Boston-based PJC, and Avonlea Capital, based in the Washington, DC area, the funding will support ICX Media's sales, marketing, business development and technology growth.
As part of the financing, Grotech General Partner Don Rainey and NRV Managing Director Scott Tolleson have joined the ICX Media Board of Directors. PJC Managing Partner David Martirano has joined the Board as an observer.
Today's Series A round follows an initial seed investment round of $3 million, bringing ICX Media to a total of $9.6 million in funding. Avonlea Capital Managing Partner Phil Herget, founding board member of ICX Media, led the company's seed financing round.
Built with machine learning and data analytics at is core, ICX Media provides powerful tools to media companies, brands, agencies and video creators, leading the evolution in video content creation, distribution, marketing and monetization.
The ICX Media platform enables media and entertainment companies, brands and creators to harness video audience data for success in today's complicated video market. ICX Media introduced its enterprise beta program for media companies and brands in April, and today, dozens of enterprises are using the platform.
ICX Media provides media companies and brands with data-driven audience insights, advanced social marketing tools and analytics, and access to more than 850,000 video creators on the ICX Media platform, allowing enterprises to quickly generate high-quality, cost-effective, branded video content efficiently and at scale. For independent video creators, the ICX Media platform delivers tools to manage, distribute, market and monetize videos across multiple digital and social channels.
"The seasoned ICX Media team has built a solution that recognizes the key trends in the evolving video space," said Don Rainey, general partner at Grotech Ventures. "As data science and machine learning continue to drive content creation for advertisers and media companies, ICX Media is at the right place at the right time to guide companies and creators through the transformation of the video economy."
"The pace of change in today's digital media ecosystem is extraordinary," said Scott Tolleson, managing director of venture investment firm NRV and long-time digital media veteran. "I believe that ICX Media's data-driven approach to video creation, distribution and marketing is the right solution for brands, media companies and creators trying to navigate this complex market."
ICX Media will use the proceeds of its Series A financing to enhance its sales, marketing and business development teams. Funds will also support continued development of its data science and technology capabilities. Headquartered in Washington, DC with an office in New York City, the company will soon add an office location in Los Angeles.
"We are thrilled to welcome Grotech and NRV to our investor syndicate as we continue to scale and grow ICX Media into an entirely new type of media company," said Michael Avon, CEO and co-founder of ICX Media. "After building out our core technology platform over the past two years, we are now excited to accelerate our go-to-market strategy with this new funding."
Other ICX Media investors include Kelly Newman Ventures, Blazar Ventures and numerous prominent angel investors in Washington DC, New York, San Francisco and Los Angeles.
About ICX Media, Inc.
ICX Media is a technology and data analytics company that offers digital video creators, brands, agencies and media companies the data insights and decision-making tools to create, market, and distribute original digital video content cost-efficiently and effectively. Founded in 2015 by a team of digital media veterans, ICX Media is headquartered in Washington DC, with offices in New York and, soon, Los Angeles. Visit https://icxmedia.com for more information, or follow us @icxmedia on Twitter.