Innovid, a leading video platform to create, deliver, and measure video experiences on any device, will start 2016 well-heeled for new initiatives.
The company recently announced it has raised $27.5 million in funding — largely from New Spring Capital, as well as previous investors including Sequoia Capital Israel, Genesis Partners, Cisco Ventures, T-Venture, and Vintage Investment Partners. Silicon Valley Bank and TriplePoint Capital also participated in the funding round.
“This latest investment in Innovid is a result of the company’s 420 percent year-over-year growth to bringing on over 220 accounts, including advertisers such as Best-Buy, Chrysler, Pfizer, Proctor & Gamble, and Wal-Mart,” a company announcement explains. “Innovid is exclusively serving video advertisements for more than 40 percent of the top 200 TV advertisers in the U.S.”
Innovid’s claim to fame? It’s the only video platform that serves pre-roll and advanced video ads across every device — including desktop, mobile, gaming consoles, and connected TV/OTT.
“The company also boasts the largest video publisher certification footprint, allowing Innovid to maintain complete media neutrality,” according to PE Hub.
“We are excited about this latest investment that will further enable us to accelerate our business in the rapidly-evolving market of TV,” said Zvika Netter, the CEO and co-founder of Innovid.
“With the majority of video advertising technology owned by media interests, Innovid has remained firmly media-neutral and open in its approach to video ad delivery, and therefore, have been favored by marketers who see value in partnering with an un-biased vendor that is purely focused on tech innovation,” Netter added.