LOS ANGELES – OpenAP, the advanced advertising company for television, today said it had received an investment from the venture capital arm of data cloud company Snowflake. With the backing of Snowflake Ventures, OpenAP plans to speed up the development of OpenAP Data Hub, the company’s cross-platform and cross-publisher clean room solution. Financial terms of the deal weren’t disclosed.
The deal also marks the first time a non-television publisher has acquired an ownership stake in OpenAP, which has had a commercial relationship with Snowflake. Media companies Fox, NBCUniversal, Paramount and Warner Bros Discovery are part owners of OpenAP, which started in 2017.
“We are really excited about this investment with Snowflake, and the deepening of our partnership with Snowflake,” David Levy, chief executive of OpenAP, said in this interview with Beet.TV. “We really see a need to invest in core infrastructure.”
OpenAP introduced OpenAP Data Hub in June 2022 to provide publishers and advertisers with cross-platform data in privacy-compliant environments to make television audience targeting and measurement more effective.