Personalized video advertising technology company Eyeview has raised $5.2 million.
New investor, Nauta Capital, led the round and its general partner Dominic Endicott has joined Eyeview's board of directors. Previous investors include Gemini Israel Funds, Lightspeed Ventures, and Eric Schmidt's Innovation Endeavors.
The new funds will be used to assist Eyeview with its mobile expansion and European development and will enable the company to capitalize on its traction, grow its current customer base, and allow its brands to run campaigns across mobile, tablets, and TV.
Working together with leading video ad networks and publishers, Eyeview's recent campaigns include AT&T, T-Mobile, Hotels.com, Alfa Romeo, and Capital One.
Endicott said, "We have been waiting for the right opportunity to enter this space and technology and leading position in the market has opened this possibility for us. Eyeview has impressive market traction, a disruptive technology, and a passionate team we are excited to be a part of. We plan to bring our expertise in mobile and connected TV as well as our European relationships to help it become the global leader."
Eyeview CEO Oren Harnevo and CTO Tal Riesenfeld founded the company in 2007. The company is headquartered in New York, and has its R&D center in Tel Aviv. Eyeview's video advertising technology enables brands to alter video creative on-the-fly in order to provide a more relevant and effective experience for the audience.
Since the current offering launched in April 2011, Eyeview has already secured many of the largest brands in the video advertising business and is working with leading video networks and publishers. In addition to uplifts in key brand metrics such as awareness, favorability, and purchase intent, Eyeview has shown over a 30% increase in actual sales on certain campaigns from those exposed to the personalized video ads versus the original TV spot.
Harnevo said, "We are delighted to be adding Nauta Capital to our strategic investors as we continue to execute our effectiveness by showcasing direct linkage to the bottom line and relevant key performance indicators is what we believe will lead to mainstream adoption in the space on all screens."
Published by Globes, Israel business news - www.globes-online.com - on January 18, 2012
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