BlackArrow Raises $12 Million

BlackArrow Inc., a New York-based ad-management systems for viewer-controlled video, has raised $12 million in Series B funding. Cisco Systems was joined by return backers Comcast Interactive Capital, Intel Corp., Mayfield Fund and Polaris Venture Partners. The company also announced that Larry Kramer, a senior advisor to Polaris and founder of MarketWatch, has joined its board of directors.