NEW YORK: Medialink is taking $5 million in new funding from institutional investors and putting it toward an expansion of its Teletrax service.
"This gives us the opportunity to expand [our] client base by increasing our sales and marketing efforts," said Larry Moskowitz, chairman, president, and CEO of Medialink. "We plan to use this capital to develop Teletrax to its full potential."
The capital investment will allow Medialink to expand the global and industry scope of the technology, which provides video watermarking services that track where and when content is being aired. "We plan to attack other very big markets," Moskowitz said.
One such market is motion pictures, he said, where Teletrax can be used to help filmmakers track how often their movies are being broadcast in syndication, as well as track unauthorized use. Other potential markets include the sports and archives industries.
Medialink has previously been limited to promoting Teletrax in news, PR, and TV syndication markets, Moskowitz said.
The capital investment will also benefit Medialink's other businesses, he noted. "This capital allows us to divert more of our resources back into our traditional Medialink services ... which have been funding Teletrax," he said. "It allows us to reinvest the profits that we generate in our traditional PR services."