Online video advertising company, TubeMogul recently announced that it has acquired $20 million in C series funding. The latest investment, led by Northgate Capital combined with previous investments from Trinity Ventures and Foundation Capital, has resulted in a grand total of $35 million. This six-year-old company that provides businesses with simple online video advertising, optimization, and metrics plans on using the funding for hiring new employees for sales, marketing, and engineering. They are also planning to open new international offices in order to reach a global market.
According to CEO and co-founder of the company, Brett Wilson, “we are proud to have built the most scalable platform for real-time video advertising out there – one that could easily run ten times the volume of ads than it does today. With the product built out, we are focused on scaling the business to increase our global market share in the video advertising market.”
During TubeMogul’s relatively short existence, they have created an easy-to-use platform that provides businesses with an effective means of reaching their demographic via online video advertising. By integrating media buying along with features like targeting, optimization, and reporting, the company has become a cornerstone of its industry and has seen rapid yet steady growth. In 2012 alone, they added 70 new positions and revenue doubled since last year. Inc. magazine has even listed them as the 144th fastest growing company in the United States. They have also worked with numerous big name clients, including Toyota, Allstate, Columbia Sportswear, and Kmart.
With an emphasis on branding, this company offers businesses all the necessary tools for gaining exposure and building brand equity. BrandSights, for example, gives in-depth performance data including second-by-second viewer engagement and social signals like Facebook Likes and Twitter tweets. With online video advertising increasing 18 percent over the first half of 2012 and a projection that real-time bidding for video ads will reach $667 million in 2013, the company is poised for long-term success. According to Ajay Chopra, a general partner at Trinity Ventures, “Brett and his team have built TubeMogul into the fastest growing company in the video ad platform space.”
This is tangible proof that online video advertising is more popular and effective than ever. It also seems to indicate that many companies are making a transition from traditional television commercials to the Internet. This steady growth over the past half-decade ultimately means that it would behoove many companies to at least consider online video advertising as a viable marketing option.
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