INNOVID SECURES STRATEGIC INVESTMENT FROM T-VENTURE
NEW YORK - Innovid, interactive video advertising innovators and provider of the iRoll ® interactive pre-roll format, today announced that it has secured a strategic investment from T-Venture, the venture capital company of Deutsche Telekom. The investment will enable the New York based video advertising platform to accelerate their growth, and provides a strong, strategic partner for the company to enter both the mobile and European markets.
Innovid’s iRoll format increases the value of in-stream advertising inventory for both advertisers and publishers. With deep levels of engagement delivered in-stream, the iRoll provides the opportunity for users to spend as much time as they want with a video ad that typically only lasts :15 or :30 seconds, like a TV commercial. This enables advertisers to deliver nearly limitless amounts of information, including promotional materials, downloads, coupons, additional video content, and even e-commerce functionality directly within the ad, without forcing users to leave the page or content they want to watch. In the most recent quarter, Innovid has delivered their iRoll interactive pre-roll format in campaigns for Kraft, Buick, Hyundai, Disney Pictures, Sony, and agencies including Publicis’ MediaVest and Digitas, Havas’ MediaContacts, and WPP’s Mindshare, and Omnicom’s OMD.
The increased functionality and engagement is a benefit to publishers as well, increasing site “stickiness,” keeping users on their pages longer, and selling in-stream ad inventory at higher CPMs than traditional pre-roll advertising. Over the past year, Innovid has expanded its publisher network to include more than 2000 publishers, offering the widest reach of any in-stream video ad format available to advertisers. Innovid’s publishers include 80% of the web’s top video publishers, such as NBC, CBS, MTV, Turner, Fox, Tremor media, National Geographic, Crackle, DailyMotion and more.
“We are thrilled to be supported by T-Venture- one of the global venture capital leaders”, said Zvika Netter, CEO, Innovid. “The resources of their T-Venture, as well as their faith in our product, will help us strengthen our leadership position in the in-stream advertising market and continue to innovate the most creative, engaging and effective advertising products across any screen, be it PC, Mobile or Connected TV.”
“Innovid is a pioneer in the video advertising market, a high-growth industry across multiple platforms,” said Georg Schwegler, CEO, T-Venture. “We are impressed with the effectiveness of Innovid’s iRoll advertising format online, and are excited by the potential of their platform in the mobile internet market as smartphones continue to increase in relevance and market penetration.”
To date, the company has raised $7.1 million. The strategic investment adds to the previous Series A round of investment lead by Genesis Partners in March of 2008. Genesis Partners is also a participant in current round.
With the new investment, Innovid will be increasing headcount in New York, Los Angeles, Chicago and Tel Aviv, as well as opening offices in Europe. Additionally, Innovid will increase their investment in product development and research, expanding their core product offering, and entering the mobile and interactive television markets and will be working closely with Deutsche Telekom to shape the advertising models for emerging media platforms.
Innovid developed the groundbreaking iRoll® which embeds interactive elements in pre-roll video ads making them dynamic and engaging without forcing audiences away from the page. Innovid`s proprietary technology provides a seamless integration between videos, embedded images and interactive features, empowering today`s marketers to engage their audiences more deeply than ever before. Beyond ad integration and serving, the company solution includes a back-end analytics dashboard to measure and track engagement. Visit (www.Innovid.com
T-Venture Holding GmbH is one of the most important corporate venture capital companies in the world. Founded in 1997 as a wholly owned subsidiary of Deutsche Telekom AG, it has since then invested in young companies that demonstrate economic and technological synergies with the Deutsche Telekom business units as well as above-average growth potential. Its head office is in Bonn. It is supported and complemented in its activities by T-Venture of America, Inc. in Foster City, Silicon Valley, and in Seattle. Investment activities focus on Europe, the United States and Asia. T-Venture currently manages the T-Mobile Venture Fund, the Connected Life and Work Fund, the T-Home Venture Fund, the T-Systems Venture Fund and the T-Corporate Venture Fund.