- Vibe just received $6.35 million in seed funding from venture capital firm Elaia Partners.
- The startup makes it easier and cheaper for small and medium-sized businesses to place ads on streaming TV.
- It follows the playbook used by Google by making advertising accessible to smaller businesses.
Vibe, which measures how streaming TV advertising performs for small and medium-sized businesses, has received $6.35 million in seed funding from French venture capital firm Elaia Partners.
Its technology enables advertisers to create and run their own campaigns on streaming TV platforms. According to Vibe, it takes less than five minutes to get a campaign up and running. The company has 100 customers in the US, including gym chain Blink Fitness and direct-to-consumer lingerie brand Adore Me, and is expected to reach 1,000 US customers by 2023.
CEO Arthur Quérou, a Paris-based serial entrepreneur who says he first encountered the complexities of digital ad buying as a hacker as a teenager, co-founded Vibe in January 2021 with Chief Technology Officer Frank Tetzlaff. Vibe’s technology makes it easier for small and medium-sized businesses to advertise on streaming TV by helping them manage the complexities of programmatic advertising and reduce the high cost of those ads.
It reduces this complexity by providing quick access to 400+ CTV apps and channels including Paramount Plus, Pluto TV and Samsung TV Plus. And Vibe lowers those costs because there’s no high minimum spend — advertisers can spend anywhere from $1,000 to $100,000 a month on ad purchases. The company makes money by charging a fee based on the amount of ad spend.
The ability for advertisers to own Vibe’s platform and the fact that there is no minimum spend also sets it apart from competitors like MNTN and TvScientific (which recently closed a $20 million Series A funding round ), said Querou.
Quérou added that Vibe doesn’t compete with public adtech companies like The Trade Desk, which works with larger TV advertisers.
“Access to TV and CTV advertising for new types of advertisers is critical and predicts a tremendous market opportunity,” said Pauline Roux, partner at VC firm Elaia.
Vibe’s focus on increasing the performance of streaming TV advertising gives the company some resilience during an economic downturn, when advertisers tend to slash branding budgets in favor of performance marketing. Quérou said working with a wide range of clients across all industries helps mitigate the risk as well.
Quérou said he will use half of the company’s $6.35 million investment to further develop the company’s product and the rest to hire marketing and sales personnel. Vibe currently has 25 employees, 20 of whom are engineers.
Elaia had previously invested in Vibe co-founders’ previous company, KMTX, a data-backed trading desk that was sold to contextual advertising solutions provider Seedtag in July. Vibe was born from KMTX. Quérou also previously founded Motionlead, a developer of playable ad units that is now part of app retargeting platform Adikteev.