VeuHub, a three-year-old startup whose ad platform connects video publishers, brands and agencies, has raised $2 million in seed investment.
The company, which operates a sales-focused headquarters in Toronto and a development office in the Communitech Hub, secured the funding from Bethmann Lombard Bancorp Inc., a private venture capital, merchant banking and financial advisory firm based in Winnipeg.
The investment will enable VeuHub to scale its development and sales teams and finish building their new omni-channel ad-serving software-as-a-service product, called Slyngshot.
VeuHub uses proprietary technology to bring together video publishers, brands, and agencies in a data-driven, content-sharing and monetization platform. It offers a self-serve content management system that currently hosts more than 500,000 videos, a multi-screen player that delivers high-quality video across mobile devices, desktop computers and connected TV, and a custom-built monetization ad stack. The platform enables content creators to increase distribution and web publishers to generate incremental revenue.
“We live in an age of video ubiquity and people now expect to find high-quality video content wherever they land online, but the creators of these videos need to find ways to make money from their efforts,” said Hainsley Guthrie, CEO and co-founder of VeuHub. “What VeuHub does is fill the premium content void and assist both creators and web publishers with their monetization efforts.”
Guthrie, who was born and raised Waterloo Region, co-founded VeuHub with Corey Wiseberg in 2016. Guthrie said he decided to return to the region to build VeuHub’s development team at Communitech, where team members frequently take advantage of lunch-and-learn sessions, guest-speaker presentations and one-on-one time with advisors.