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BlackArrow on target for $20M in additional funding

Mon, 10/06/2008 - 8:15am
Mike Robuck

BlackArrow, which develops ad-management systems for video, said today that it has secured $20 million in a second round of funding.

San Mateo, Calif.-based BlackArrow said the additional funds would be used to further product development, expand distribution platform support, and increase worldwide sales and marketing efforts.

Second-round investors included existing investors: Cisco Systems Inc., Comcast Interactive Capital, Intel Capital, Mayfield Fund and Polaris Venture Partners. To date, BlackArrow has raised a total of $38 million in private financing.

BlackArrow said its ad management system enables content providers and distributors to create new advertising revenue opportunities and to reach audiences that increasingly view video programming via broadband, live streaming, video-on-demand and other emerging platforms outside of traditional, linear television airtimes.

“BlackArrow has achieved key milestones with our ad-management technology, and we’re well positioned for growth as television and other professionally produced video content extends its reach over various viewer-controlled platforms,” said Dean Denhart, president and CEO of BlackArrow.

More Broadband Direct:

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• Cablevision hires Farrell, Plunkett to wireless division

• WSJ: Verdict expected soon in Verizon-Cox case

• BlackArrow on target for $20M in additional funding

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• Convergys acquires Ceon Corp.

• Broadband Briefs for 10/06/08

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