Smart video co SundaySky raises $20m

SundaySky will use the investment to accelerate growth and scale by expanding marketing capacity in existing and new locations.

Smart video developer SundaySky has raised $20 million in a Series C financing round led by Comcast Ventures. Liberty Global Ventures, Vintage Investment Partners, and existing investors Carmel Ventures, Globespan Capital Partners, and Norwest Venture Partners (NVP) also participated in the round.

SundaySky will use the investment to accelerate growth and scale by expanding marketing capacity in existing and new locations, and strengthening new product innovation to further its competitive advantage.

SundaySky doubled its staff in the last 12 months, tripled revenue in 2012, and expects that growth to continue in 2013. In the last 12 months, SmartVideo views have grown more than 200% to 140 million, spanning e-commerce, telecommunications, insurance, banking and travel industries with more than half of those views attributed to SmartVideo advertising programs.

The company was founded in 2006 by Shmulik Weller and Yaniv Axen. Headquartered in New York, the company's technology development center is in Ramat Hahayil, Tel Aviv.

SundaySky CEO Shmulik Weller said, This milestone highlights SundaySkys success in establishing and leading the smart video category and a new paradigm for how businesses engage with their customers. All of our investors share a commitment to our mission to capture the vast market opportunity for personalized video and innovate ahead of the competition.

Comcast Ventures managing director Andrew Cleland will join SundaySkys board of directors. He said, Comcast Ventures is a believer in disruptive digital marketing innovation, particularly as CMOs boost technology investments and seek to develop more direct, personalized relationships with customers. SundaySky sits at the intersection of these trends, combining rich creative experiences with big data, and well support a world-class team building a clear category leader."

Published by Globes [online], Israel business news - www.globes-online.com - on October 15, 2013

Copyright of Globes Publisher Itonut (1983) Ltd. 2013

 
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