Tenovos Raises $4 Million Series A Investment to Accelerate Growth and Adoption of Story Management Platform
Initial Round, Led by Progress Ventures with Participation from BDMI, Revel Partners and Dublin Capital will Help Scale Tenovos’ Operations, Enabling Continued Growth
Tenovos, the company helping brands tell stories that matter, announced that it has secured a series A investment led by Progress Ventures with participation from Bertelsmann Digital Media Investments (BDMI), Revel Partners and Dublin Capital to help the company build on increasing market momentum for its award-winning story management technology. The $4 million round will be used to scale Tenovos’ customer success strategy and invest heavily into product development for its flagship solution Active Story Management (ASM)™.
Since its launch in 2019, Tenovos’ mission is to build technology that changes the way brands connect with customers through stories and data. The company’s products put creatives in the driver’s seat to do their best storytelling, augmenting content with intelligence in order to bridge the gap between digital assets and the customer journey. Already, brands like Amazon, The Kraft Heinz Company, Brown-Forman and more have partnered with Tenovos, leveraging the technology to captivate audiences with stories that inform, inspire, connect and entertain.
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“As marketers, we are consistently striving to create the perfect brand experience for consumers, and pinpointing the right moment and the right screen with the right message can make all the difference,” said Neil Punwani, SVP, Director Communications & Planning Excellence at Brown-Forman. “We have rolled the Tenovos solution out to our global teams and external partners and we value the innovative way the technology approaches many of our unique content challenges, while working side-by-side with the Tenovos team to ensure we’re getting the most out of the platform.”
“When we first started due diligence on Tenovos, we could clearly see that its technology had the ability to go well beyond traditional content management technologies like Digital Asset Management (DAM) platforms,” said Chris Legg, general partner at Progress Ventures. “Progress Ventures has deep roots as an investor in the marketing and media technology space and as we looked deeper into the opportunities with the platform we got even more excited about what can be accomplished and our ability to be helpful.”
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“As part of Bertelsmann, a media, services and education company operating in about 50 countries around the world, BDMI recognizes how important it is for consumer-centric brands to tell stories that engage their target audiences,” said Keith Titan, partner at BDMI. “This is the exact reason we’re excited about our investment in Tenovos. They’re thinking differently about content and introducing technology that we feel is going to set the standard for how global brands tailor their experiences.”
“Stories are the cornerstone of today’s relationship between people and brands and Tenovos is fueling those connections by augmenting brand content with deep intelligence,” said D. Scott Bowen, CEO of Tenovos. “We’re incredibly excited to partner with the teams at Progress Ventures, BDMI, Revel Partners and Dublin Capital. Together we see a tremendous opportunity to accelerate how brands create, produce and tell their stories.”
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