In case you missed the news, Tenovos has received a $10 million Series B investment from S4S Ventures and BDMI, two heavy hitters in the world of digital media.
So, why DAM and why Tenovos?
The obvious answer is that we’re a modern, data-driven digital asset management (DAM) platform. Unlike many competitors out there, we’re built specifically to help enterprise brands accelerate content development, effectively reuse content, and gain insight into content performance.
That said, there’s more going on here that brought these large investors to our door.
Digital Transformation and the Loss of Media Signal
Digital transformation continues to lift businesses to new heights. As more of the world’s consumers go digital, the opportunities for companies to transform engagement with their customers are multiplying.
While this is a positive thing for companies, it’s having unwanted repercussions. As more brands embrace transformation, the ubiquity of digital experiences is leading to fatigue.
Consumers are overloaded by a wall of digital noise, and brands are struggling to break through it to engage in meaningful ways. Add in the loss of media signal resulting from cookie deprecation and identifier for advertisers (IDFA) changes, brands are now doubly challenged to engage buyers.
What we’re seeing in response are companies trying to scale the creation of personalized and optimized content to cut through the clutter, meet consumers on new channels, and find new paths to engagement through content.
How Tenovos Connects Content to Buyers
Here’s where things get exciting for Tenovos, our customers, and our new investors.
Achieving this level of scale requires a modern digital asset management (DAM) system that, from ideation to publishing, acts as the system of record for a brand’s product and marketing content. As the one source of truth for content, brand teams can streamline the creation process by leveraging the platform to improve content discoverability, reuse, and automate publishing to channels such as web, and social.
But, breaking through the wall of noise takes more than just a massive volume of content. Brands must pick the right content, for the right channel, and deliver it at the right time. That’s no easy task.
According to Forrester Research, 33% of B2C marketers are still unsure of what type of content to create, an issue compounded by the loss of signal we mentioned earlier. That’s why Tenovos built a DAM on the foundation of strong analytics, empowering brands with productivity and performance insights to not only help create content quicker, but also create more impactful content to drive engagement, revenue, and retention.
The teams at S4S Ventures and BDMI share a similar vision, believing in unlocking the capability for brand teams across media, content, and creative to have a direct conversation with the consumer by empowering them to own their data in-house.
By marrying both productivity and performance metrics in the DAM, Tenovos allows brands to answer questions like:
- Is my content driving engagement and revenue?
- Is my content even being used?
- Do we have consistent creative and branding across all channels?
- Which product image drives the most likes on Instagram?
This access to real-time productivity and content performance data within the DAM helps brand teams not only improve the efficiency of their storytelling (by reusing content that works), but also optimize future content (by creating more of what’s resonating).
Global product brands such as Amazon, Mattel, and Saks Fifth Avenue, are leveraging Tenovos not only because of the unique data but also because of some key features such as:
- PIM Framework: Universal connection to enterprise PIM systems allowing users to leverage product information in the DAM to increase content findability, and package product creative and information for publication on eComm platforms.
- Rights management: Built-in rights management to ensure compliance with licensing agreements, and easily manage, find, track and measure licensed content.
- Storyboards: Secure branded content portals to easily share and manage content with internal and external partners or agencies.
- Workflows: Automate creative editing, review and approval processes to speed up creative timelines and delivery.
- Configurability: Boost user adoption by easily configuring the system to match user needs, and easily manage or evolve metadata structures that automatically apply across the platform, all without the need for IT.
Investing In the Future
This new round of investment is validation of our vision for the future of DAM, and the needs of enterprise brands in this evolving world of digital media. As a DAM-only vendor, the entirety of the investment will be used to drive innovation in our platform and success for our customers.
To learn more about our technology and why we’re the DAM for the future, click here.
You can read more about the recent round of investment here.