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



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

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

PR Newswire

NEW YORK, March 6, 2013

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

Website: http://www.Innovid.com
Contact: Lydia Howard, Vantage Communications for Innovid, +1-413-461-1218,
lhoward@pr-vantage.com
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