New Enterprise Associates led a $30 million funding of TidalTV, a video advertising, optimization, and yield management solutions provider. Comcast Interactive Capital and Valhalla Partners also participated in the financing.
TidalTV, a leading video advertising, optimization, and yield management solutions provider, today announced it has raised more than $30 million in financing led by New Enterprise Associates (NEA), with participation from other existing investors Comcast Interactive Capital and Valhalla Partners. The new funding will support the aggressive expansion of TidalTV’s technology into new global markets throughout 2011 and the deployment of its proprietary ad decisioning solutions into new multi-screen applications for advertisers, media agencies and publishers.
“TidalTV’s visionary product offering capitalizes on current and future market needs unlike any other in the media landscape today,” said NEA General Partner Patrick Kerins. “NEA is very pleased to continue supporting Scott Ferber and his team as they expand the business to take advantage of immediate opportunities in the rapidly evolving media marketplace.”
TidalTV launched as a technology platform in late 2007 and has quickly grown to be a formidable global player in the online video and advanced TV industries through its one-to-one ad decisioning technology. Since launching its mobile solution last month, TidalTV has cemented a leadership position in the mobile video, online video and advanced TV areas. This growth is supported by a robust roster of world-class talent, key advertiser and publisher partners, an expanded international footprint headquartered in London, as well as the rapid release of unparalleled innovative video advertising targeting and monetization technologies.
The investment nearly doubles TidalTV’s last financing, allowing the company to further build momentum in the rapidly growing video advertising category and to deliver advanced capabilities in targeting the right ad, to the right person, at the right time, across platforms. eMarketer estimates that by 2015, 76% of internet users, or 195.5 million people will be watching online video each month. In the same period, it predicts online video advertising spending will surge from $1.97 billion to $5.71 billion.
“Our focus on bringing math and science into the branded advertising space has been well received, and truly illustrates the demand for more efficiency and effectiveness in brand marketing,” said Scott Ferber, Chairman & CEO of TidalTV. “I have never experienced such eagerness to invest into the growth of a company by existing investors, so much so that we could not accommodate all the demand. This infusion of capital will advance TidalTV’s position as a leader in video-based advertising solutions for advertisers and publishers through investments in premier human capital, expansion into new global markets and the development of innovative product suites.”