clypd may have recently taken on $7.2 million in VC funding to build out its ambition to bring data-driven advertising to television – but an exec says things are moving faster than anticipated.

“We have a total $10.5 million (in investment) – this is being used to build out the team, build out the platform,” product head Jason Burke tells Beet.TV.

“This happened a lot quicker than we were anticipating. There’s been a lot of talk in the industry about more money moving to programmatic. Folks recognize that TV is a huge bucket of money.”

That’s what clypd sets out to do – help advertisers and TV ad inventory holders buy and sell slots using programmatic technology.

Says Burke: “If we can help build incremental reach by exposing that (audience) for the sell side and making it available for the buy side, then everyone wins.”