Israeli video ad and analytics platform developer company Innovid today announced the acquisition of Argentinean advertising Herolens. Sources close to the deal say that the acquisition is for $30 million.
Herolens is an advertising software company with expertise in display creative optimization technology and is the largest creative management platform in Latin America, focused on delivering data-driven, dynamic and personalized creative on behalf of brands such as Coke, Renault, and Mercado Libre. Founded in 2015, Herolens has 40 employees in Argentina, Colombia and Mexico who will join Innovid's staff.
Innovid was founded in 2007 by CEO Zvika Netter, Tal Chalozin and Zack Zigdon and has 200 employees, of whom 75 are in Israel with the remainder in the US, Europe, Australia and Singapore. The company has raised $82.5 million to date with a recvent $30 million financing round completed.
Netter said, "We’ve heard first-hand from our clients, the world’s largest TV spenders, the need to leverage data to connect all channels, including TV. We continue to lead with the most advanced TV and video capabilities in the market, while also providing brands their desired goal of a single stack via adding support for display ads. With TV at the center, brands can now go deep and wide seamlessly managing connected experiences across TV video, social, mobile and display to improve customer engagement and business outcomes."
Netter continued, "As brands look to own their data for a single view of the consumer and seek a global independent alternative to the single stack solutions provided by the duopoly of Google and Amazon, Innovid is the only leading alternative for large TV advertisers because of the depth of our offering in TV and the breadth of our offering that is now omni-channel."
Published by Globes, Israel business news - en.globes.co.il - on September 18, 2019
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