Ad platform startup gains $11M in vencap
Innovid, a startup that specializes in equipment used to create and distribute interactive advertising, has just nailed down another $11 million in venture funding.
Earlier investors Sequoia Capital, Genesis Partners, and T-Venture (Deutsche Telecom) were joined by new investor Vintage Investment Partners in the Series C funding round. This latest round brings Innovid’s total amount of venture financing to $27.6 million.
The company develops tools to create, deliver and measure video campaigns, in any format, on any screen, publisher or ad network. The suite of products includes the Innovid's own Ad Server.
The company targets agencies and marketers looking to deliver pre-roll video ads to PCs, mobile handsets and tablets.
Marketers can insert interactive elements in their video ads, including games, contest entries, social apps, coupons, additional video, shopping carts, and store locators, the company said.
Innovid said it will use the cash to expand its business, and also to extend its platform to be able to insert ads on gaming consoles, connected TVs, video on demand systems and broadcast TV.
The company said its ad server is being used by Toyota, Nissan, Chrysler, Sony Pictures, Paramount, GSK, eBay, T-Mobile, EA, and Best Buy among others.