NEWS23 November 2022

Sorrell-backed fund invests in Tenovos

Data analytics News North America Technology

US – Digital asset management company Tenovos has raised $10m in a Series B funding round led by S4S Ventures – backed by Martin Sorrell’s S4 Capital – and BDMI.

Sir Martin Sorrell

Based in New York, Tenovos is a software-as-a-service platform used by brands to publish assets to their digital channels and track their productivity and performance.

Software industry executives Scott Bowen and Sal Hakimi founded the company in 2018. 

S4S Ventures is a venture capital fund jointly backed by S4 Capital, the company founded by former WPP chief executive Martin Sorrell in 2018, and Stanhope Capital Group.

BDMI is a subsidiary of global media, services and education company Bertelsmann.

Tenovos will use the investment to boost product development and expand its global strategy, following its expansion to Canada, UK and the Middle East. Sanja Partalo of S4S Ventures and BDMI’s Keith Titan will join the Tenovos board as part of the deal.

The terms of the transaction have not been disclosed.

Martin Sorrell (pictured), founder and chairman, S4 Capital and MediaMonks, and co-founder and partner, S4S Ventures, said: “At S4S Ventures, we believe that intelligence derived from the intersection of content and data is foundational to modern marketing success.”

Tenovos offers marketers data and insight needed to “ensure their creative assets can impact engagement, loyalty, and revenue,” Sorrell added.

Scott Bowen, chief executive at Tenovos, said: “Our vision for the future of digital asset management is to make it a foundational technology within the martech ecosystem, and the system of record for all content productivity and performance-related data. This vision is closely aligned to S4S Ventures’ and BDMI’s focus on data-driven technologies focused on content.”