Video advertising startup Innovid has raised $11 million in its third round of funding, cash that will help perfect its service of moving video ads to any screen.
Innovid’s tools give advertising companies the ability to make video ads that can be delivered and measured regardless of where those ads are placed — on a specific website, an online ad network, regular TV, etc. And those video ads are ready to be viewed no matter the device. The company offers its flagship iRoll product to help businesses “connect consumers’ TV visual experience with the full interactive capabilities of the Internet.”
“TV ad spending in the U.S. alone was estimated to reach $70 billion last year. Imagine the increased value of those dollars when brands add personalization, interactivity and advanced measurability to their ads,” Innovid CEO Zvika Netter said in a statement. “Our technology is the first to bridge TV and digital by bringing together the powerful visual experience of video and the full personalized and interactive capabilities of the Internet.”
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Sequoia Capital, Genesis Partners, and Deutsche Telecom’s T-Venture all participated in the round, with a new investment from Vintage Investment Partners. Including the new round, Innovid has raised $27.6 million.
New York-based Innovid was founded in 2007.
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