Terms of the deal were not disclosed.
Boulder-based Clip Interactive, founded in 2012, has a software platform and a mobile app that allows radio stations, listeners and advertisers to interact. The Clip Radio app allows listeners to interact with and respond to a broadcast or online stream by downloading music, entering contests, accessing special offers, taking polls and responding to advertiser messaging.
Sphera Holding is an Italian editorial group, based in Padova and founded in 2008 after the merger of Company group and Radio Padova group.
In the last three months, Clip Interactive has announced a new partnership with Pennsylvania-based Entercom Communications, a partnership with Cumulus Radio in Indianapolis and an expanded partnership with Salem Communications in Portland.
Since its launch, Clip Interactive has made headway into several radio markets in the United States with a complete roll-out of its app in the Portland market. It also has entered markets in varying degrees in San Diego, Indianapolis, Minneapolis and Atlanta.
Clip Interactive has been funded by private seed money and two rounds of angel investments, said Clip Interactive’s chief executive Michael Lawless. “We are in the process of going to broader capital markets as we expand.”
The company has yet to turn a profit, but Lawless expects that will change when it launches it software platform nationally in the first quarter of 2015. “We want to be in 50 markets in 12 months of the national launch,” he said. “We are learning how listeners want to interact with radio through our presence in the Portland market, and that will aid our launch nationally.”
Clip Interactive has 30 employees in Boulder, eight in its sales office in Los Angeles, and it maintains a small sales and service presence in Portland.
The technology behind the app was developed with the help of Cardinal Peak LLC, a Lafayette-based contract engineering and consulting firm.