BrightRoll Gains $30M Paycheck
ADOTAS – Video advertising company BrightRoll has announced it has closed $30 million in financing. Trident Capital led the equity financing, and Trident Senior Managing Director Evangelos Simoudis will be joining the BrightRoll board. Existing investors True Ventures, Scale Venture Partners and Adams Street Partners all participated, as did Comerica Bank.
Demand for video advertising is rising faster than any other online ad format – projected to rise 54 percent in 2012 by eMarketer. BrightRoll really leads the pack with its significant investments in technology and research, as well as through expansion of its leadership team across key operations and strategic roles.
“As long-term ad tech investors, we continually look for companies with a leadership position in important sectors of the online advertising space. After following online video advertising for some time we have decided to invest in BrightRoll, which we consider one of the market leaders. We are impressed by the company’s leadership, vision and cutting-edge technology,” said Simoudis. “Tod and the rest of the executive team have built a solid company, and we look forward to helping them continue to grow the business.”
BrightRoll currently manages 2.25 billion video ads per month, or nearly one out of every three U.S. video ads served, according to data from comScore and BrightRoll internal reporting. Furthermore, the company now reaches more unique viewers than Hulu, ABC, CBS, FOX and NBC combined. Earlier this year, BrightRoll expanded internationally opening offices in the U.K., Canada and Germany.
In September 2010, BrightRoll launched mobile video advertising enabling advertisers to execute both mobile and online video ad buys through a single platform. The company’s mobile network currently generates more than 250 million monthly pre-roll video impressions across 6,000 mobile apps and websites. Most recently, three of the top five mobile applications that collectively account for 600 million installs globally joined the company’s network.
“We are delighted to partner with Trident Capital as we enter into our next stage of growth,” said BrightRoll 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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