BrightLine Completes $20 Million Series A Funding Round to Expand Market Leadership in Advanced TV
BrightLine, the market leader for Advanced TV, today announced that the company has completed a $20 million Series A round of financing. The lead investor behind this round is Fundamental Global Investors chairman Joe Moglia, also the chairman and former CEO of TD Ameritrade.
BrightLine is powering Fortune 100 companies with the industry's most engaging and scalable advanced TV solutions in the age of streaming. The world's leading brands, including AMEX, Home Depot, Estee Lauder, GM, Unilever, and Nat Geo, rely on BrightLine technology to reach millions of U.S. households with interactive TV ad campaigns that are distributed across Over-The-Top (OTT) platforms.
"BrightLine has become the de facto standard for Advanced TV marketing solutions. The Company is led by a strong CEO with an outstanding management team. BrightLine pioneered interactive TV solutions early on and developed a powerful technology platform and vast network of partners that bring audience engagement via connected TV to the next level," said lead investor Joe Moglia.
At the core of BrightLine's offering is InCAST, the industry's most powerful Advanced TV technology suite that gives marketers a plug-and-play solution to take advantage of the entire scale of OTT, Connected TV and Smart TV advertising opportunities.
BrightLine's media partners include AMC, A&E, CBS, Discovery, ESPN, Fox, Hulu, MTV and VH1. Apple, Amazon, Microsoft Xbox, Roku, Samsung, and Sony PlayStation are among the company's OTT delivery platform partners.
"It's prime time for Advanced TV at scale. We see huge demand by advertisers to take advantage of connected TV media opportunities, as they create higher engagement levels than any other advertising format. We will use the investment to support the growth in dynamic and interactive TV ads to an unprecedented level that allows targeted, programmatic TV ad buys with measurable return at scale," commented Jacqueline Corbelli, Co-founder and CEO of BrightLine on the funding round.
To date, 65% of U.S. TV households have at least one television set connected to the Internet via a video game system, a smart TV set, a Blu-ray player, and/or a stand-alone device (like Roku, Apple TV, Chromecast, or Amazon Fire TV), according to a study by consumer research firm Leichtman Research Group.
Pivotal Capital is also a participant in the round. "We are excited to be part of this funding round. OTT is one of the fastest growing, and most watched spaces by Fortune 500 companies, as it unlocks massive marketing and business growth opportunities," said Tom Niehaus, Co-founder of Pivotal Capital.
To see examples of how marketers are using BrightLine technology, see here http://www.brightline.tv/demos/.
About BrightLine
BrightLine is the market leader for Advanced TV, powering Fortune 100 companies with the industry's most engaging and scalable advanced TV solutions in the age of streaming. Founded over a decade ago, BrightLine was the first company to pioneer interactive television solutions for brands. Today BrightLine offers InCAST, the industry's most powerful Advanced TV technology suite that gives marketers a plug-and-play solution to take advantage of the entire scale of Over-The-Top (OTT), connected TV and Smart TV advertising opportunities. Fortune 100 companies rely on BrightLine's unprecedented reach to engage their audiences with interactive ads across broadcast and cable stations, including AMC, A&E, CBS, Discovery, ESPN, Fox, Hulu, MTV and VH1, and OTT delivery platforms, including Roku, Samsung, Apple, Amazon, Microsoft Xbox and Sony PlayStation, as well as leading ad networks and Demand-Side-Platforms (DSPs). Learn more about BrightLine at www.brightline.tv and follow BrightLine on Twitter @BrightLine_TV.
About Fundamental Global Investors
Fundamental Global Investors provides clients access to premier alternative investment options. The firm was ranked the fastest growing RIA in the country by Financial Advisor Magazine in 2014, based on assets under management. Joe Moglia is Chairman, Co-Founder & Partner of Fundamental Global Investors. Joe is also the current Chairman of TD Ameritrade, and Head Football Coach for Coastal Carolina University.
About Pivotal Capital
Pivotal Capital is a leading provider of Venture Debt to High Quality, High Growth, Early Stage Venture Backed Companies. Based in Menlo Park California, Pivotal works with Companies across the United States to structure transactions that optimize efficient growth and help to minimize dilution. www.pivotalcp.com
Industry Announcements's article first appeared on OnlineVideo.net