Syncbak’s other investors include CBS, the National Assn. of Broadcasters, and the Consumer Technology Assn. (formerly the Consumer Electronics Association, which changed its name last November). The company previously had raised $15.35 million in three rounds, according to CrunchBase.
Gray was the first major TV station group to deploy the Syncbak over-the-top platform across all of its stations in 2013. With the investment, Gray chief digital and technology officer Jason Effinger has joined Syncbak’s board.
“From its founding, Syncbak has impressed us with its technology, its understanding of local broadcast operations, and its rapid adoption across the industry,” Gray CEO Hilton Howell said in a statement. “Going forward, we now can participate even more meaningfully in the evolution of local broadcasting with the best team out there.”
Atlanta-based Gray Television owns or operates stations in 50 TV markets, including 35 channels affiliated with CBS, 26 NBC affiliates, 19 ABC affiliates and 13 Fox affiliates.
Syncbak was founded in 2009 by media-tech entrepreneur Jack Perry. Its technology is currently deployed by 180 television stations across 150 markets, representing 51 broadcast groups and all major networks.