Comcast Interactive Capital was among the investors that raised $16 million in Series B funding for online advertising firm TidalTV.
Other investors included New Enterprise Associates and Valhalla Partners. TidalTV said the new funding not only provides it with the ability to invest additional resources in online video advertising and monetization solutions for advertisers and publishers, but it also validates its proprietary video ad decisioning technology.
Comcast Interactive Capital's managing director David Horowitz will join TidalTV's board of directors.
"Despite a challenging economic environment, TidalTV's progress illustrates the demand for more efficiency and effectiveness in branded advertising. The additional capital will accelerate TidalTV's position as a leader in video-based advertising solutions for advertisers and publishers," said Scott Ferber, chairman and CEO of TidalTV.
With this new Series B funding, TidalTV said it intends to aggressively expand its development of advanced targeting and ad decisioning capabilities within the video marketplace.
TidalTV previously announced a strategic partnership with WPP's GroupM as the third-party optimization and yield management technology partner for its advanced television initiative.