Online video advertiser on a BrightRoll with $30 million funding
Joseph O'Halloran ©RapidTVNews | 16-11-2011 BrightRoll, a leading provider of digital video advertising services, has closed $30 million in financing amid continued expansion of network, exchange and mobile video solutions.
BrightRoll claims to manage currently 2.25 billion video ads per month, reaching more unique viewers than Hulu, ABC, CBS, FOX and NBC combined. Earlier in 2011 it expanded internationally with offices in the UK, Canada and Germany.
Leading the equity financing round was new investor Trident Capital, whose Senior Managing Director Evangelos Simoudis will be joining the BrightRoll board, as well as existing investors True Ventures, Scale Venture Partners, Adams Street Partners and Comerica Bank.
"As long-term adtech investors, we continually look for companies with a leadership position in important sectors of the online advertising space. After following online video advertising for some time we have decided to invest in BrightRoll, which we consider one of the market leaders," said Simoudis explaining his company's decision to make a bet on BrightRoll.
Despite the inclement economic times, BrightRoll has emerged as a viable proposition for investment, doubling its revenue year over year and tapping into demand for video advertising which it says is increasing faster than any other online ad format. It attributes its success to investments in technology and research, as well as expansion of the senior leadership team across key operations and strategic roles. Indeed Trident admitted to being impressed by the company's leadership, vision and cutting-edge technology.
"We are delighted to partner with Trident Capital as we enter into our next stage of growth," said BrightRoll CEO Tod Sacerdoti. "Bolstered by this additional funding, we're confident our combination of unmatched access to industry data, proprietary technology and research leadership will enable us to consistently provide the best solutions for clients."