Jivox Raises $8.2M, Expands Board
Jivox secured $8.2 million in a second funding round led by Fortisure Ventures, with participation from existing investors Opus Capital and Helion Advisors. The India-based video advertising firm that aims to allow customers to run campaigns across a broad range of devices also expanded its management, adding Mani Subramanian, CEO of Fortisure Ventures Akademos CEO and Next Issue founder and John Squires to the board of directors.
“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. Additionally, we plan to use this investment to build out our technology platform and realize our vision of bringing interactive ad technologies to all screens,” said Diaz Nesamoney, the founder and current chief executive of Jivox.
In its goals for the future of mobile and putting its funding to good use, the company points to an eMarketer reported forecasting a 65 percent increase in mobile spending this year to $1.23 billion. Jivox claims it’s powering about 1000 campaigns per month, so with an ever-expanding roster of support devices Jivox is tapping a big market. Nevertheless, there are several other players that are also doing some innovation around the unoccupied parts of mobile users’ screens.
Millennial Media, currently the largest independent ad network, upgraded its developer tools recently by rolling out the latest versions of its Android and iOS SDKs, alongside adding some new features to its developer site. The software development kits now offer support for expanded video ad functionality, including improved interstitial controls, video callbacks and more. In turn, mmDev.com now lets marketers sell Millennial-powered ad campaigns to clients.
Mobile advertisement is a growing industry, where – as the number of eyeballs grows – the number of service providers follows.
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