Video advertising platform Innovid has raised a new $9.5 million round of funding. Sequoia Capital led the round, which was filled out by existing investors Genesis Partners and T-Venture (Deutsche Telecom). Gili Raanan of Sequoia’s Herzelia, Israel-based office is taking a seat on Innovid’s board as part of the financing. The four-year-old, New York-based company had previously raised $7.1 million.
Innovid ( www.innovid.com ), the leading provider of Interactive video advertising solutions to day announced a $9.5 million round of funding led by Sequoia Capital, with participation from existing investors Genesis Partners and T-Venture (Deutsche Telecom). The new funds will be put towards an aggressive growth strategy centered on making the company’s Interactive Video Ad Serving & Analytics offerings globally available. Gili Raanan of Sequoia Capital will assume a seat on Innovid’s Board of Directors.
“Innovid has fast become the platform of choice for brands, agencies and publishers looking to get a higher ROI on their pre-roll video buys,” said Zvika Netter, Co-Founder and CEO of Innovid. “Having Sequoia Capital as a business partner will allow us to get our offerings into the hands of more marketers worldwide.”
Through the use of iRoll — the standard for interactive pre-roll ad serving and analytics–Innovid provides brands and their agencies with a much needed platform for creating, serving and measuring interactive video advertisement. This is combined with deep insight into campaign performance and ROI that was previously not available in the marketplace.
“The growth in online video consumption and advertising is staggering. We identified Innovid as a true technology leader in the industry with unparalleled integration into the distribution channels of video publishers & ad networks,” said Gili Raanan, General Partner at Sequoia Capital. “We look forward to assisting Zvika, Tal, Zack and the team as they build out their business.”
Innovid’s platform provides seamless integration between interactive video advertising solutions, ad serving functionality, and reporting and analytics; empowering today’s marketers to engage and track their audiences more effectively than ever before. Innovid’s focus is on two elements:
DYNAMO; Innovid’s Agency Video AdServer and Analytics platform , which provides baseline video serving and analytics for top global brands and a robust analytics dashboard that measures and tracks engagement at the deepest levels. Innovid is the only platform with the integration across hundreds of the top video publishers and every major video ad network providing the scale needed by large brand advertisers and their agencies.