Interactive ad company Innovid has closed a financing round from Cisco Investments and all its existing investors Genesis Partners, Sequoia Capital, and T-Venture.
Innovid develops cross-channel advanced video, and with advertising still bringing a major revenue stream to cable TV service providers, the company teamed up with Cisco at CES 2015 to demonstrate interactive advertising to subscribers across any device - while providing a core platform that manages video for advertisers across multiple screens. This capability will help improve ad effectiveness by giving viewers more ways to interact with brands, explore products, and request information, as well as improve ad traction by holding the viewer's attention and reducing channel changes during ads.
Innovid was founded in 2007 by Zvika Netter (CEO), Tal Chalozin (CTO) and Zack Zigdon (MD International). The company is headquartered in San Francisco and has its development office in Ramat Gan. This new funding brings the total raised by Innovid to $37.6 million.
Innovid will use the investment funds to develop its product offering for brands and media agencies, while continuing to grow its interactive and personalized video capabilities across multiple devices. These capabilities will help combat media fragmentation and empower advertisers to consolidate data from several sources.
Netter said, "This investment is another validation of our continued leadership and innovation in a rapidly evolving market. Targeting audiences with digital video across devices, in a way that's smart and effective, is crucial to helping advertising connect relevant content with relevant audiences. Brands and marketers are waking up to realize that those possibilities now exist, and these are the conversations that drive and inspire us as a company."
Published by Globes [online], Israel business news - www.globes-online.com - on March 29, 2015
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