Videology Raises $60M in Series D Funding Round
Video advertising technology company Videology has completed a Series D financing round and taken in an additional $60 million in funding. The round was led by Catalyst Investors, with new investor Pinnacle Ventures and previous investors New Enterprise Associates, Valhalla Partners, and Comcast Ventures taking part in the round.
Videology will use the funds to create new technology that will bring the power of TV marketing to internet-connected computers and devices. The Videology platform lets brands and agencies plan, deliver, manage, and evaluate online video advertising campaigns. It uses the familiar features of TV advertising, while offering ad targeting. The company is based in Baltimore, Maryland, with offices in 12 countries.
“The greatest opportunity for growth is driven by the continued convergence of television with the internet and mobile devices. Our technology bridges the traditional and digital worlds through a unified platform, enhancing the effectiveness of both,” says Scott Ferber, Videology's chairman and CEO.
Videology was founded in 2007. It now runs campaigns for 900 brands each year, it says, claiming a compound annual growth rate (CAGR) of 190 percent.
Earlier this month, Videology released a report showing that in the first quarter of 2013 Canada led other markets in cross-device video advertising.
While viewers once eagerly awaited new programming in September, today's viewers aren't tied to TV seasons, finds Videology.
A survey commissioned by Videology shows that holistic planning is coming, and that programmatic won't replace buying ads on specific shows.
Dubbed "Descartes," the platform helps advertisers find the best mix of reserved and non-reserved media buys.
Video viewers in Canada watch a greater proportion of their content on mobile devices and connected TVs.
To drive results, Videology's Collider Media reaches consumers when they're in the market for a particular product and close to making a buying decision.
Xbox 360, PlayStation 3, Google TV, Apple TV, and Roku on display at IAB-hosted media showcase.