Tenovos, the data-first, modern Digital Asset Management (DAM) company helping brands tell stories that matter, announced that it has secured an $8 million Series A-1 investment led by Progress Ventures. The oversubscribed round more than triples the company’s valuation and counts participation from previous investors including Bertelsmann Digital Media Investments (BDMI), Revel Partners and Dublin Capital and introduces new personal investors including Jeff Lunsford, CEO of Tealium. The investment will be used to accelerate product development and advance the intelligent features of its innovative Active Story Management (ASM)™ platform.

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Tenovos’ ASM platform is the only DAM solution that’s bridging the gap between digital assets and the customer journey. The solution was built from the ground up to help large global brands manage, move, and measure content assets through their storytelling lifecycle. Brands such as Google, Amazon, Lockheed Martin Company and Canadian Tire Corporation use Tenovos technology as the foundation of their complex, global content and experience strategies.

“Tenovos was launched to tackle the world’s most challenging and complex global content environments, and make them more effective by adding a layer of insight and intelligence that has never existed in the DAM ecosystem before,” said D. Scott Bowen, CEO of Tenovos. “Our investors have a standing track record of picking winners and that’s exactly what they’ve done with Tenovos. Our company is primed for explosive growth, introducing the perfect mix of disruptive technology and a seasoned leadership team that knows how to intelligently drive scale. I’m confident that 2021 will be another banner year for Tenovos and I’m looking forward to what lies ahead.”

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“It’s clear to us that the DAM market is at an inflection point and that Tenovos is on the forefront of that inflection with a new perspective that aligns with bigger business value for CPG, retail, and media and entertainment companies,” said Adriaan Zur Muhlen, managing partner at Progress Ventures. “We’re excited by the roadmap we see ahead for Tenovos and we’re looking forward to helping the company continue to gain market share and grow its platform.”