TubeMogul Raises $10M in Second-Round Series C Funding
The online video media buying platform TubeMogul has raised an additional $10 million in the second round of its Series C funding, which it will use to further its rollout into Asia. This round was led by SingTel Innov8, a part of the SingTel Group. New investor Cross Creek Capital participated in the round, along with previous investors Digital Advertising Consortium, Foundation Capital, and Trinity Ventures.
In previous funding announcements, including a $20 million Series C round in December, 2012, and a $1.24 million investment in February, TubeMogul has indicated that it sees a strong future in programmatic buying in Asia. With this additional funding it will continue its Asian expansion, bringing programmatic online video buying to the region. Yesterday, TubeMogul opened in office in Beijing, China, with the mission of introducing Chinese brand marketers and publishers to online video programmatic buying.
TubeMogul notes that its seen growth in its Singapore and Sydney offices in the past year, and will use some of the funding to grow their information technology infrastructure.
“Our private investments are focused on high-growth, late-stage companies with the potential to become public companies, and TubeMogul fits that bill,” says Karey Barker, the managing director at Cross Creek Capital.
Brands can achieve higher completion rates by understanding the motivations that drive its viewers.
After analyzing millions of pre-roll video ads, TubeMogul finds that mobile viewers prefer evenings late in the week.
Online video ad buying gets closer to TV ad buying with this self-service tool.
Partnerships with investors DAC and Omnibus will let TubeMogul bring real-time bidding and advanced targeting to buyers.
Additional funds will help launch offices in Europe and Asia, with new hires in engineering, marketing, and sales.