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Snowflake Ventures, the venture capital arm of data cloud company Snowflake, today announced an investment in advanced TV advertising firm OpenAP. The financial terms of the deal, which reportedly gives the data leader a 5% stake, were not disclosed.
OpenAP was founded in 2017 by a consortium of television publishers to provide advertisers and agencies with a standard open platform for cross-publisher audience targeting and independent posting. It enabled audience data activation, moving the industry from the siloed targeting and measurement of linear and streaming viewership to consistent ID-based targeting and measurement across platforms.
To further simplify this effort, a few months ago, the ad-tech firm partnered with Snowflake and announced the plan to launch a dedicated clean room solution called OpenAP data hub.
What does OpenAP data hub do?
As explained by the companies, the OpenAP data hub will serve as a privacy-compliant centralized destination where publishers can store and share rich but anonymized cross-platform audience data, including OpenID spine and TV data appended to the spine — covering OpenAP demographic audiences, custom audiences and OpenID exposure data. This ‘clean room’ information can then be accessed by advertisers and agencies to power more effective audiences for targeting and measurement. In other words, no more need to move it through different hands.
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With the latest investment, Snowflake said it will help OpenAP accelerate the development and speed-to-market of the clean room solution. The move also makes the data giant the first non-publisher to take an ownership stake in OpenAP.
In a joint statement by Dan Callahan, SVP …