S4S Venture, BDMI lead Series B investment in Tenovos
November 21, 2022
Tenovos, the modern data-first digital asset management (DAM) company, has raised a $10 million (€9.7m) Series B investment led by S4S Ventures, a venture capital fund backed by shareowners of S4Capital, Stanhope Capital Group, and BDMI, part of Bertelsmann’s corporate venture arm Bertelsmann Investments. Existing investors including Progress Ventures, Revel Partners and Dublin Capital took part in the fundraising. Terms of the transaction have not been disclosed.
Tenovos is a New York-based SaaS DAM founded in 2018 by a team of software industry veterans, D. Scott Bowen and Sal Hakimi. The platform leverages productivity and performance insights, empowering brands to streamline and automate the traditional complexities of creating and publishing optimised content at scale. The company has grown rapidly, primarily across entertainment, consumer packaged goods, and retail segments, and counts Amazon, Brown-Forman, Canadian Tire, Glossier, Marvel, Mattel, Saks.com, and Twitch among its customers.
Sir Martin Sorrell, Founder and Chairman, S4Capital plc/Media.Monks, and Co-Founder and Partner, S4S Ventures, commented: “At S4S Ventures, we believe that intelligence derived from the intersection of content and data is foundational to modern marketing success, something we have found that we agree on with Scott and Sal. While many companies are still using DAM platforms that have neither the data nor insights they need, Tenovos empowers marketers with both to ensure their creative assets can impact engagement, loyalty, and revenue.”
Sanja Partalo, Co-Founder and Managing Partner, S4S Ventures, added: “All brands need to build a foundation for intelligent content automation at scale. Tenovos impressed us with their capabilities in analytics that support data-driven content generation, and its speed of deployment. They are a modern marketer’s DAM.”
Keith Titan, Partner, BDMI, said: “With challenging times ahead, consumer brands, retailers, media and entertainment companies can’t afford to waste time or money within their sales and marketing programs. The Tenovos platform enables quick and definitive identification of high-performing product and marketing assets, plus a way to get those trusted materials into the hands of their key internal and external stakeholders instantly. It’s a next generation DAM solution.”
D. Scott Bowen, CEO at Tenovos said “Our vision for the future of DAM is to make it a foundational technology within the martech ecosystem, and the system of record for all content productivity and performance-related data. This vision is closely aligned to S4S Venture’s and BDMI’s focus on data-driven technologies focused on content, and we’re excited to realise it together.”
The company will use this investment to accelerate product development and expand global go-to-market channels for the business, which has recently expanded to Canada, UK and the Middle East. Partalo and Titan will join the Tenovos board in conjunction with the investment.