"TubeMogul brings innovative technology and expertise to the video advertising space, making them a leader in their category and an exciting company to add to our portfolio," comments Ashu Garg of Foundation Capital.
Emeryville, CA (PRWEB) October 8, 2010
TubeMogul, a leading video advertising and analytics platform, today announced that it closed $10 million in Series B funding led by Foundation Capital. The proceeds will be used to accelerate the growth of TubeMogul's video advertising solution and industry-leading analytics.
The Series B round was led by Foundation Capital, with existing investors Trinity Ventures and Knights Bridge Capital Partners also participating. Ashu Garg, Partner at Foundation Capital, will join TubeMogul's Board of Directors, along with existing members Ajay Chopra, General Partner at Trinity Ventures, Dick Costolo, CEO of Twitter, and David Toth, founder of NetRatings.
TubeMogul plans to expand its investment in its PlayTime ad platform to cement its position as the leading intelligent media buying and analytics platform for all forms of video advertising. PlayTime uses TubeMogul’s proprietary viewership data and targeting technology to ensure advertisers achieve the most efficient media spend for their video campaigns. Leveraging the largest cross-platform video viewership dataset in the world, TubeMogul places video ads in front of the specific audiences most likely to watch longer and interact with a given ad – all in real-time and at a per-impression level. This results in a significant increase in the metrics that brands care about – an increase that direct site and network buys cannot match.
Launched in March, Playtime has generated more than 800 million views spanning more than 200 campaigns for brand advertisers including Procter & Gamble, Unilever, Microsoft, Symantec, Sony Pictures, Activision and 20th Century Fox. PlayTime was ranked #2 in Potential Reach among video advertisers by comScore in August. PlayTime enables advertisers to purchase video advertising in any form, including pre-roll, in-banner, mobile and social media ad units. With PlayTime, advertisers only pay for views – not “impressions” – and get complete control over site lists as well as detailed viewership, audience and engagement reporting at the ad placement and site level.
TubeMogul also plans to significantly expand the reach and scope of InPlay, its free self-serve video analytics for publishers, content creators and advertisers. Thousands of the Internet’s leading publishers rely on the service, which spans billions of monthly streams. In addition, TubeMogul is extending InPlay’s capabilities to develop new audience, attitudinal and performance metrics to help advertisers measure ROI.
TubeMogul will also continue the expansion of its international operations. In the past year, TubeMogul partnered with Times Audience Network (TAN), the largest media company in India, and McLaren Media, a leading digital agency in Australia, licensing both companies to sell PlayTime. As a result, TubeMogul is now running dozens of campaigns all over the world and will build on this momentum with new hires and new offices in strategic global locations.
“TubeMogul has increased revenues 300% yearly since inception while being extremely capital efficient,” says Ajay Chopra,General Partner from Trinity Ventures. “Online video consumption is reaching a pivotal point of consumption. With this additional financing, we believe that TubeMogul will continue its growth rate and extend its leadership position in the video advertising space.”
"TubeMogul brings innovative technology and expertise to the video advertising space, making them a leader in their category and an exciting company to add to our portfolio," comments Ashu Garg. "The company and team already have a stellar track record and are well-positioned for growth.”
"It is extremely important for us to surround ourselves with the best possible people who can help bring intelligence and accountability to video advertising,” says Brett Wilson, CEO and Co-Founder of TubeMogul. "Ashu Garg, who is a seasoned internet advertising veteran that helped build one of the internet’s biggest platforms from the ground up, is an invaluable addition to our board.
Foundation Capital is a venture capital firm driven by the singular goal of changing the world - about leaving it a better place – by building great companies. It is this entrepreneurial spirit along with a deep technical expertise that gives the partners the understanding, perspective, and enthusiasm to help promising companies in their formative stages. Foundation Capital targets innovative opportunities in cleantech, consumer Internet and infrastructure; telecommunications and networking; and enterprise software and on-demand services. Foundation Capital maintains investments in nearly 70 ventures, including Calix, Financial Engines, Netflix and Silver Spring Networks. For more information, visit http://www.foundationcapital.com.
About Trinity Ventures
Founded in 1986, Trinity Ventures, a boutique firm, partners with passionate entrepreneurs to transform revolutionary ideas into reality. With over $1 billion under management, Trinity Ventures was founded on the principle of personal engagement and mutual respect with the entrepreneurs we fund. Trinity Ventures focuses on early stage technology ventures with a particular emphasis on digital media, Internet services, mobility, security and software markets.
Trinity Ventures has invested in more than 100 ventures, including such leading companies as Affinity Labs (acquired by Monster.com), Aruba Networks, Bix (acquired by Yahoo!), Blue Nile, Crescendo Communications, Extreme Networks, Forte Software, IntruVert Networks (acquired by Network Associates), LoopNet, Modulus Video (acquired by Motorola), Network Alchemy (acquired by Nokia), Photobucket (acquired by News Corporation), SciQuest, Speedera Networks (acquired by Akamai Technologies), Starbucks, Sygate Technologies (acquired by Symantec) and Wall Data.
TubeMogul is a video advertising and analytics platform that connects advertisers with highly targeted audiences. TubeMogul's advertising solution is powered by the company's unprecedented data platform that tracks billions of video streams every month from the Internet's top publishers. This unique technology enables TubeMogul to help advertisers find consumers who want to watch their videos - and watch them longer. Advertisers and marketers never again have to choose engagement and accountability over reach if they use TubeMogul's video advertising and analytics platform.
For more information about TubeMogul, contact:
+1 510 653 0501