Innovid, the technology platform delivering immersive video advertising anywhere, announced that it raised $11 million in Series C funding. Existing investors Sequoia Capital, Genesis Partners, and T-Venture (Deutsche Telecom) participated in the round, with a new investment from Vintage Investment Partners. This announcement comes on the heels of a global leadership position in the agency video ad serving market with 450 per cent year over year growth for the company. The funding will be used to continue Innovid’s rapid global growth in video ad serving across PC, mobile and tablet, as well as expand into new screens including gaming consoles, connected TV, video on demand and broadcast TV.
“Innovid’s swift worldwide growth is indicative of the advertising industry’s need for a platform that advances TV advertising to the next stage,” said Doug Leone, General Partner of Sequoia Capital, which has funded an unprecedented number of enormously successful companies including Google, Apple, LinkedIn and Cisco. “Leveraging its proven technology and experienced team, we are confident Innovid will fulfill its vision to revolutionise the world of TV advertising.”
Innovid’s video technology platform provides brands and marketers with the tools to create, deliver, and measure video advertisements from simple pre-roll campaigns to the most complex addressable and interactive units. The company’s iRoll® formats bring alive a new dimension for digital video, adding native, interactive elements to flat pre-roll ads. Marketers can insert interactive elements in their video ads, including games, contest entries, social apps, coupons, additional video, shopping carts, store locators, and any other creative ideas to capture viewers’ curiosity and create powerful, immersive experiences for consumers.