9 years ago

Honeycomb Raises £3 Million Series A to Automate TV and Video Ad Management

  • Honeycomb, a TV and video ad management platform founded by James Carpenter and Richard Carter, who both previously founded Adstream, has raised £3 million in Series A funding led by Beringea, along with a number of individuals from the worlds of television and advertising

  • Honeycomb's platform automates elements of the submission process, which typically involves a lot of tedious data entry, resulting in numerous steps between the creative industries or post production houses and ads appearing on TV

  • Honeycomb's other key selling point is that, unlike leading competitors, including Carpenter and Carter's former company Adstream, it charges the same amount for HD or SD content, meaning that advertisers don't need to compromise picture quality

  • The company wants to help usher in so-called programmative TV in the next two to three years, which will allow media buyers to purchase TV ads based on audience data, rather than relying on ratings of individual shows and channels.

      • ProblemTechnology

      "The process of getting a TV or video advert from the creative agency, post production house or similar, all the way to a broadcaster or online publisher is painful. There could be 30 steps in the process, across email, phone and even fax, all with the potential for human error. It's slow, frustrating and expensive. Not only that, it hinders quality"

      Solution

      "Honeycomb automates elements of the submission process, which typically involves a lot of tedious data entry. This results in numerous steps between the creative industries or post production houses and ads appearing on TV. Using Honeycomb's tech, creative agencies and post production houses can submit content in about half of the time or less, while the possibility of human error is reduced significantly."

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