Social, Digital Media Disclosure Firm CMP.LY Closes $2.4M Series A Funding
CMP.LY, a company that enables brands to adhere to disclosure in social and digital media, today announced $2.4 million is Series A funding led by Innovation Ventures L.P. headquartered in DE and PA-based Originate Ventures. David J. Freschman, Managing Principal of Innovation Ventures and Eric Arnson, Managing Partner of Originate Ventures, join CMP.LY's board of directors.
Of his company's offering, CMP.LY CEO Tom Chernaik said, "Leading brands understand that they must better measure program performance and manage risk as they roll out increasingly larger social initiatives. Among the companies that have turned to CMP.LY to address trust, transparency and regulatory compliance are well-known brand Jamba Juice, digital marketing agency 360i, social marketing agency Big Fuel, public relations agency Coyne PR and word-of-mouth and social media marketing agency Zocalo Group."
"As the line between genuine, unpaid endorsement and compensated endorsement continues to blur, CMP.LY invented a new approach to transparency. Anyone - most notably consumers - can now see for themselves if a recommendation or promotion is unbiased," notes Originate Ventures' Arnson.
Innovation Ventures' Freschman observes, "The rapidly evolving marketplace requires scalable solutions for standardized disclosures, automated monitoring, performance measurement and compliance documentation. CMP.LY is first to address these needs across social media, the web and mobile."
With the line between content and commerce having blurred into oblivion, the market is ripe for this sort of standards-based approach to disclosure.