As first reported this morning by Geekwire, we’re excited to announce a secondary closing for our Series A funding, with West River Group, Spivy Private Capital and Sports Loft joining Grayhawk Capital, Next Frontier Capital, Sinclair Broadcast Group and WISE Ventures as investors in Tagboard. The secondary closing of $2.3 million in capital increases our Series A funding round to $10.3 million.
We are also thrilled to share that Anthony Bontrager, Managing Director, WestRiver Group is joining Tagboard’s Board of Directors. A veteran in the technology and media space, Anthony brings incredible experience and knowledge to our board – with a successful track record of helping companies effectively scale through innovation, team growth and partner development.
“Tagboard has quickly emerged as the cloud platform of choice for major media and broadcast organizations looking to redefine how they produce and tell stories,” said Bontrager. “We couldn’t be more excited to join as a strategic investor in the company, and I look forward to collaborating with Nathan and team as a board member.”
The hard truth for media organizations today is they face increased competition and pressure to produce content that drives viewership and measurable engagement, all while working with tighter budgets, time, and resources. Producers today not only need to experiment with new interactive content formats to better engage viewers across channels, they also have an imperative to produce stories in a more efficient and impactful way.
Tagboard removes the complexity and cost of legacy production hardware, empowering producers to create shows from anywhere in the world, whether they are traveling abroad, working from home, or in the broadcast studio.
“We’ve known the Tagboard team for several years and have been so impressed by their approach working with the top sports and media partners across the country to reimagine remote production and live storytelling,” shared Sports Loft Founder Charles Greenwood. “Tagboard makes crafting interactive stories for broadcast or livestreams as easy as creating stories on TikTok or Instagram and is quickly transforming the industry.”
Tagboard Momentum Continues to Build
In a short span of time, Tagboard has become the preferred cloud production software for more than 600 media brands worldwide. In fact, media partners have produced more than 20 million stories using Tagboard in the past year, with an average of 1,200 graphics incorporated into stories each day.
Highlights so far in 2022 include NBC Sports’ coverage of the XXIV Olympic Winter Games and Super Bowl LVI; CBS Sports and Turner Sports’ coverage of NCAA March Madness, ABC’s broadcast of The 94th Academy Awards, and many others. By incorporating interactive graphics, polls, as well as live social content and reactions from fans, our media partners are able to bring viewers closer to athletes, celebrities and people behind each story.
There are a couple of other key factors that are driving rapid adoption for our platform:
- Tagboard saves media organizations time and money. In contrast to competing solutions, Tagboard prides itself on ease of use, where within an hour of training, anyone from an intern to an experienced producer can create custom graphics on the fly, integrate real-time social content across major platforms, or launch interactive campaigns through QR and polling technology.
- Tagboard solves for the engagement and revenue gap media organizations today face – delivering measurable engagement and stronger ad revenue across channels.
“Tagboard is redefining broadcast and interactive production, removing the barriers that have slowed down production teams to date,” said Greg Spivy, Founder, Spivy Private Capital. “We’re thrilled to join the investment round as Tagboard continues to execute on its vision to become the world’s leading cloud production software for live storytelling across any connected screen.”
Congrats to the entire Tagboard team on this incredible milestone and continued momentum. Also huge thanks to our investors, board members and partners. We would not be here without you.
To learn more about Tagboard and how our platform can help power your content production, visit www.tagboard.com