This new funding brings the total raised by Innovid to $65 million including a $10 million financing round earlier this year.
Israeli video ad company Innovid has raised $27.5 million in a Series D financing round. Investors in this round include New Spring Capital, Sequoia Israel, Genesis Partners., Cisco Ventures and T-Venture and the financing included $12.5 million in debt from Silicon Valley Bank and Triple Point Capital.
Innovid was founded in 2007 by Zvika Netter (CEO), Tal Chalozin (CTO) and Zack Zigdon (MD International). The company is headquartered in New York and has its development office in Ramat Gan. This new funding brings the total raised by Innovid to $65 million including a $10 million financing round earlier this year.
Innovid develops cross-channel advanced video, and with advertising still bringing a major revenue stream to cable TV service providers, the company teamed up with Cisco at CES 2015 to demonstrate interactive advertising to subscribers across any device - while providing a core platform that manages video for advertisers across multiple screens. This capability will help improve ad effectiveness by giving viewers more ways to interact with brands, explore products, and request information, as well as improve ad traction by holding the viewer's attention and reducing channel changes during ads.
Published by Globes [online], Israel business news - www.globes-online.com - on December 24, 2015
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