Media News

WPP leads $25 mln round of financing for Invidi Tech

NEW YORK, Dec 13 (Reuters) - Invidi Technologies Corp, an advertising technology company, said on Thursday it raised $25 million in its latest round of funding, led by advertising holding company WPP Group Plc WPP.L.

WPP division GroupM was joined in the round by investors who also took stakes in previous funding for Invidi, including Menlo Ventures, InterWest Partners and EnerTech Capital.

GroupM Chief Executive Irwin Gotlieb has joined the board of Invidi, which makes technology that determines who is watching TV, breaking the audience down by age, gender, location, income and ethnicity of the viewer.

That data can then be used by advertisers to better target their marketing, one of the hottest areas in the industry.

WPP, the world’s second-largest advertising holding company, has struck a number of deals recently, buying India-based online media agency Quasar and taking stakes in Brazil’s Plano Trio Comunicado and Dubai-based Gregg Sedgwick Creative Strategy. (Reporting by Paul Thomasch; Editing by Brian Moss)