Israeli startup SundaySky, which powers personalized video engagement for leading brands, today announced it has closed a $30 million Series D financing round. New investor Viola Private Equity led the round and was joined by existing investors Carmel Ventures, Globespan Capital Partners, Norwest Venture Partners, Comcast Ventures and others. NTT DOCOMO Ventures - the venture capital arm of NTT DOCOMO, Inc., Japan’s leading mobile operator and a SundaySky customer - also participated as a strategic investor. The company has raised $67 million to date include the latest financing round.
The funding will scale global growth, support continued product innovation and a rapidly expanding customer base as SundaySky builds upon its position as the pioneer in the personalized video engagement market.
The company was founded in 2006 by CEO Shmulik Weller and CTO Yaniv Axen. Headquartered in New York, the company's technology development center is in Ramat Hahayil, Tel Aviv.
By 2020, SundaySky expects all Fortune 500 business-to-consumer companies will adopt data-driven, personalized video storytelling to engage with and communicate to their customers. SundaySky has seen year-over-year SmartVideo program growth of 130% and is on track to reach 1 billion cumulative SmartVideo views by the end of the year, as companies respond to growing consumer demand for relevant and personalized experiences. Enterprises that implement SmartVideo at one stage of the customer lifecycle - such as video billing, acquisition or onboarding - are now adopting it for multiple applications across their businesses for holistic SmartVideo strategies.
Weller said, “This funding underscores the maturity of the personalized video engagement category, and SundaySky’s leadership in it. We’ve seen significant, rapid growth in adoption of SmartVideo as a strategy for leading global brands, and with the investment from Viola Private Equity, we will continue to execute on our mission of offering one-to-one communication through a storytelling medium that is highly targeted, measurable and scalable.”
The company is expanding its board of directors, adding two members with extensive leadership in building publicly traded technology companies. Following this round Viola Private Equity General Partner Ayal Shiran will join the company’s board of directors. In addition, Rami Hadar, former president and CEO of Allot Communications Ltd. (NASDAQ, TASE: ALLT) will assume the role of executive chairman. “As the creator of the personalized video engagement market category, SundaySky has changed how brands interact with consumers, making one-to-one personalized communication possible,” said Ayal Shiran, general partner of Viola Private Equity. “With SundaySky’s proven technology, veteran executive team and impressive blue-chip customer list, the company is positioned to accelerate growth and advance its solution, now more than ever. We believe in SundaySky’s vision of personalized video becoming the primary engagement medium between a brand and an individual."
Published by Globes [online], Israel business news - www.globes-online.com - on June 8, 2016
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