BrightRoll Takes $30M in Funding Round
Video advertising network BrightRoll has secured $30 million in funding in a round led by a new investor: Trident Capital. Trident's senior managing director Evangelos Simoudis will join the BrightRoll board as part of the agreement. The round also saw participation by True Ventures, Scale Venture Partners, and Adams Street Partners, all existing investors, as well as Comerica Bank.
This marks BrightRoll's largest round of financing so far. A public relations representative said the funds "will be used to facilitate the ongoing expansion of the company's services and reach."
BrightRoll seems to be doing a good job of that already, even before this round: it now manages 2.25 billion video ads each month. The most recent comScore index shows BrightRoll as the fourth largest online video ad-server in the U.S., behind Hulu, Tremor Video, and Adap.tv.
"We are delighted to partner with Trident Capital as we enter into our next stage of growth," says BrightRoll's CEO Tod Sacerdoti. "Bolstered by this additional funding, we're confident our combination of unmatched access to industry data, proprietary technology, and research leadership will enable us to consistently provide the best solutions for clients."
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