Innovid raises $27.5MN to fund multiscreen expansion


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Joseph O'Halloran

| 05 January 2016




Innovid has raised $27.5 million in funding which will see use boosting the growth of the any-screen online video advertising platform used to create, deliver and measure video experiences.



New Spring Capital led the new round along with participation from previous investors, including Sequoia Capital Israel, Genesis Partners, Cisco Ventures and T-Venture. Just under half ($12.5 million) of the financing was received as debt financing from Silicon Valley Bank and Triple Point Capital.

Innovid claims to be the only online video platform that can serve pre-roll and advanced video ads across every device — including desktop, mobile, gaming consoles and connected TV/OTT.

It says that this latest investment is a result of the company’s 420% year-over-year growth, bringing on over 220 accounts, including advertisers such as Best-Buy, Chrysler, Pfizer, Proctor & Gamble and Wal-Mart. Innovid exclusively serves video advertisements for more than 40% of the top 200 TV advertisers in the US.

“We are excited about this latest investment that will further enable us to accelerate our business in the rapidly-evolving market of TV,” commented Zvika Netter, 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 favoured by marketers who see value in partnering with an un-biased vendor that is purely focused on tech innovation.”

"Innovid has not only built competitive video technology, but was also able to demonstrate strong financial KPIs — and being profitable early on is one of them," added Glenn Rieger, New Spring General Partner. "We are thrilled to add Innovid to our portfolio of successful technology companies, and help them accelerate their growth."