Bangalore-based interactive online video advertising company Jivox today announced that it has secured $ 8.2 million in financing to support rapid adoption of its technology.
Fortisure Ventures led the round and existing investors Opus Capital, Helion Advisors and Diaz Nesamoney reaffirmed their commitment to Jivox through their participation.
Following the infusion, Mani Subramanian, the CEO of Fortisure Ventures, and John Squires, CEO of Akademos, will join Jivox's board of directors.
"The industry is at a tipping point as advertisers now understand the need for more engaging and creative interactive ads that reach viewers on multiple screens and across social channels," said Diaz Nesamoney, the CEO and founder of Jivox.
"This strategic investment will allow us to accelerate the rapid adoption of our interactive video advertising platform, which we designed to solve technology complexities of delivering creative and innovative online video ads at scale and on any screen," Nesamoney said.
Additionally, the company plans to use this investment to build its technology platform and realise its "vision of bringing interactive ad technologies to all screens".
A new eMarketer forecast estimates mobile ad spending in the US will reach $ 1.23 billion this year, a 65 per cent increase over 2010, Jivox said in a statement.
As such, mobiles are increasingly part of the overall ad buy and ensuring video ads effectively run on multiple screens without complexities is no longer an option but a must, it said.
"Jivox, which currently delivers more than 1,000 interactive video ad campaigns a month, is uniquely positioned to address this market need as it is the only platform that truly enables interactive video ads to run on multiple screens, with an ad serving infrastructure that can deliver at scale," the statement added
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