Web video ad company gets $10M
Psst. There is some money out there still. Online video management and advertising start-up Auditude closed a new round of financing, hauling in $10.5 million.
Auditude aims to make it easier to monetize video distribution on the Web, combined with advertising. The company has an ad distribution platform, coupled with what it is calling “fingerprinting” technology.
The company claims it can automatically identify copyrighted content, even when embedded in user-generated content, and associate ads with that content.
Auditude has partnerships with MTV Networks, Warner Bros. Entertainment and MySpace (Video and Music).
Auditude’s second financing round was led by Redpoint Ventures, with the participation of Greylock Partners, which provided the company’s seed funding in 2007.
With the investment, Chris Moore, a partner with Redpoint Ventures, will join the company’s board of directors. Other board members are James Slavet of Greylock Partners; Owen Van Natta, CEO of Playlist and former COO of Facebook; David Moore, vice chair of IAB and CEO of 24/7 Real Media; and Rod Canion, founder and former CEO of Compaq.