Antenna, a streaming analytics startup, has secured $ 4.2 million in funding
Antenna, a new startup providing analytics for subscription-based services, has received $ 4.2 million in seed funding from Raine Ventures.
Founded in February in the midst of The Streaming Wars, the 12-strong business intelligence company is built on the idea of helping companies cope with the crowded and volatile direct-to-consumer market. By leveraging the underlying transactional data, the company can provide insights into growth, user acquisition, and service churn rates.
As more streaming services hit the market and consumer demand continues to grow during the pandemic, Antenna has caught media insider attention in 10 months, adding 10 customers and six-figure monthly recurring revenue.
Funded by Dell Technologies
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With the $ 4.2 million investment, the company plans to bring solutions to market that will analyze the impact of content and advertising and beyond entertainment to other subscription services such as education, games, audio and health and Wellness can be expanded.
Funding was led by Raine Ventures, a venture capital fund that has invested in a number of media companies including Tastemade, Soundcloud and Foursquare, as well as a number of angel investors, media industry founders, executives and thought leaders over the years.
“Antenna’s metrics are unrivaled in the marketplace and in a short space of time the company has become the new industry standard for subscription data,” said Gordon Rubenstein, Managing Partner at Raine Ventures.
The newly discovered growth of the antenna was not entirely to be expected. The company never intended to launch just before the pandemic and capitalize on a sudden and unprecedented boom in the streaming industry. But, like many startups, luck had a role in the matter, and the analytics firm has positioned itself well to capitalize on the transition from traditional media to digital and mobile.
Towards the end of the fourth quarter, and as companies and agencies try to overcome the uncertainty surrounding the 2021 pandemic, analytics companies like Antenna are expected to see a number of opportunities.