In 2013, comScore, a leader in measuring the digital world, informed that the total online video consumption in India has doubled in the past two years to 3.7 billion videos per month. With the average viewer watching 18 percent more videos and spending 28 percent more time viewing, this leads to an opportunity for marketers and at the same time for the businesses backing them. Looks like this could be one of the reasons why the online video advertising network Jivox raised $5.8 million in its Series C funding.
Earlier reported by VCcircle, the round was led by existing investor Fortisure Ventures with participation from new investor Shah Capital and existing investors Opus Capital and Helion Advisors. With this round of investment, Jivox till day has a total of $31.7 million funding across four rounds until now. Funds raised will be invested on its flagship product Jivox IQ and to expand its sales and marketing teams.
Founded in 2006 by Diaz Nesamoney, the leading multi-screen interactive advertising technology company is known for its IQ platform that enables digital agencies and publishers to produce and deliver highly engaging ads that are dynamic, multi-screen and data-driven. The firm claims that using its platform, interactive ads can be easily authored and served in-stream, in-banner and on smartphones and tablet devices featuring video, rich media, dynamic content, customizable widgets and social sharing.
In addition to its self-serve platform for ad development, Jivox provides sophisticated campaign performance tracking, demographic analytics and purchase intent analytics via BrandGage — its proprietary real-time analytics platform. Over the years it has worked with clients such as FUOR Digital, Havas, Interactive One, Martha Stewart, Martini Media, to name a few.
Opus Capital and Helion Advisors the existing investors have shown confidence in the firm since early 2008. Opus Capital invested $2.7 million of seed round in March 2008 and in June along with Helion Venture Partners it invested another $10.7 million. In 2010 both the investors pumped another $4 million followed by $8.2 million which involved Fortisure Ventures along with the two.
For Opus this is the first investment for 2014 with around 9 investments made in 2013 and for Helion the second investment this year. Last month, the VC firm along with Accel Partners had invested under $1 million in Hyderabad-based MySmartPrice.com, a price comparison site for products across categories.
As told earlier the online video advertising is gaining traction in the country. Recently comScore’s Video Ad Matrix ranked Vdopia as the No.1 ad network in India for December 2013 with 10.65 million unique viewers. Vdopia surpassed Yahoo and Times Internet properties in the online video rankings while closing ranks with Facebook with a marginal 12 per cent difference in unique viewers.