New York-based Innovid, an interactive video advertising company, has announced it raising $27.5 million in Series E round of funding led by New Spring Capital, Sequoia Capital Israel along with T-Venture, Cisco Investments and Genesis Partners. Silicon Valley Bank and Triple Point Capital contributed $12.5 million in debt financing.
Founded in 2007, Innovid is an adtech video platform that has Facebook and Walmart among its major clientele. It uses a SaaS business model and works to avoid traditional strategies in the sector like ad buying. The company’s flagship product, Atom allows customers to create and optimize videos across multiple media that incorporate different ad formats. CTO of the company Tal Chalozin said, “This is the first step towards re-thinking how ad-serving across the industry should be executed.”
The global leader in advanced video advertising headquatered in New York works with over 220 advertisers, including Best Buy, Procter & Gamble and Walmart, to create, target and measure their video campaigns. This recent round of funding is second eight-digit round of the year following a $10 million investment back in March. The plans of the company what it intends to do with the new funds has not been declared by the company.
At the start of the year, Innovid integrated ad intelligence software from Integral Ad Science into its solutions. Innovid’s platform include analytics on time earned, impressions, full video views, in-unity and downloads. They maintain a large gallery of videos they have made for different verticals, including a massive collection for several automative companies.