Time Warner Cable steps up to invest in BlackArrow
Time Warner Cable became the latest investor in advanced VOD advertising vendor BlackArrow.
As part of its strategic investment in BlackArrow, Time Warner Cable's Joan Gillman, president of media sales, has been named to BlackArrow's board of directors.
"BlackArrow has played an invaluable role in accelerating dynamic VOD ad insertion and is well positioned to be a growing part of the ad ecosystem," said Gillman. "Our investment in BlackArrow highlights Time Warner Cable's commitment to supporting our partners as the industry continues to develop new business and advertising models across a broad spectrum of television distribution platforms and devices."
With the addition of Time Warner Cable and Motorola Mobility in November, BlackArrow has wrapped up Series C funding, bringing the total amount raised to $27 million.
Time Warner Cable joined previous investors Cisco Systems, Comcast Interactive Capital, Intel Capital, Mayfield Fund, NDS and Polaris Venture Partners as financial backers of BlackArrow.
"Time Warner Cable has been a leading voice and advocate of advanced advertising and was early to recognize the potential of new TV as a profitable advertising platform," said Dean Denhart, CEO of BlackArrow. "We believe that the company's involvement as an investor is further validation of BlackArrow as a thought and technology leader in the advanced advertising space, and we look forward to benefiting from [Gillman] insight and experience as a member of our board."
Last week, BlackArrow, along with other members of the Advanced Advertising Media Project (AAMP), announced the results from the first phase of a survey on advertising on free VOD.