Innovid Secures $11M in Series C Funding from Sequoia and Vintage Venture Partners

Wed Mar 6, 2013 10:00am EST

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Latest funding positions Innovid to continue global growth and further expand
its video advertising platform into new screens such as gaming consoles,
connected TV, VOD and broadcast TV
NEW YORK,  March 6, 2013  /PRNewswire/ -- Innovid, the technology platform
delivering immersive video advertising anywhere, today announced that it raised 
$11 million  in Series C funding. Existing investors Sequoia Capital, Genesis
Partners, and T-Venture (Deutsche Telecom) participated in the round, with a new
investment from Vintage Investment Partners. This announcement comes on the
heels of a global leadership position in the agency video ad serving market with
450 percent year over year growth for the company. The funding will be used to
continue Innovid's rapid global growth in video ad serving across PC, mobile and
tablet, as well as expand into new screens including gaming consoles, connected
TV, video on demand and broadcast TV.  

(Logo:  http://photos.prnewswire.com/prnh/20130306/NY72144LOGO)

"Innovid's swift worldwide growth is indicative of the advertising industry's
need for a platform that advances TV advertising to the next stage," said  Doug
Leone, General Partner of Sequoia Capital, which has funded an unprecedented
number of enormously successful companies including Google, Apple, LinkedIn and
Cisco. "Leveraging its proven technology and experienced team, we are confident
Innovid will fulfill its vision to revolutionize the world of TV advertising."  

Innovid's video technology platform provides brands and marketers with the tools
to create, deliver, and measure video advertisements from simple pre-roll
campaigns to the most complex addressable and interactive units. The company's
iRoll formats bring alive a new dimension for digital video, adding native,
interactive elements to flat pre-roll ads. Marketers can insert interactive
elements in their video ads, including games, contest entries, social apps,
coupons, additional video, shopping carts, store locators, and any other
creative ideas to capture viewers' curiosity and create powerful, immersive
experiences for consumers.  

The company's expertise has been widely validated in the industry. In fact,
Innovid was recently selected as a winner of the  IAB's Digital Video Rising
Stars  and will join other winners in working groups to define the final
specifications of interactive video formats for the industry. In addition,
Innovid's advanced video ad server is being used by global brands like Toyota,
Nissan, Chrysler, Sony Pictures, Paramount, GSK, eBay, T-Mobile, EA, and Best
Buy among others.  

"TV ad spending in the U.S. alone was estimated to reach  $70 billion  last
year. Imagine the increased value of those dollars when brands add
personalization, interactivity and advanced measurability to their ads," said 
Zvika Netter, co-Founder and CEO of Innovid. "Our technology is the first to
bridge TV and digital by bringing together the powerful visual experience of
video and the full personalized and interactive capabilities of the Internet."

The latest funding brings Innovid's venture funding total to approximately 
$27.6 million. The company previously received  $3 million  in Series A from
Genesis Partners;  $4.1 million  in a venture round from Genesis Partners and
T-Venture; and  $9.5 million  in Series B from Sequoia Capital, Genesis Partners
and T-Venture.  

About Innovid

Innovid delivers immersive advertising anywhere. Founded in 2007, Innovid
provides visionary marketers with the tools to create, deliver and measure video
campaigns, in any format, on any screen, publisher or ad network. Innovid's Ad
Server was developed to address the issues specific to video ad serving and
simplify the process for agencies and marketers.  Bringing a new dimension to
online video, Innovid's iRoll reimagines the possibilities for interactive
engagement across multiple screens.  For more information, visit 
www.Innovid.com.



 

 

 



SOURCE  Innovid


Lydia Howard, Vantage Communications for Innovid, +1-413-461-1218,
lhoward@pr-vantage.com

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