Innovid yesterday announced it has secured $30 million in pre-IPO funding from Goldman Sachs’ Private Capital Investing group. Innovid says it will use the additional capital to further its innovation and leadership in the connected TV (CTV) advertising technology market, as well as to expand its global footprint.
“Innovid continues to push the boundaries for what is possible with video advertising across all screens, especially on CTV,” said Zvika Netter, CEO and co-founder of Innovid. “Our technology platform is enabling new advertising models, including addressable and interactive ads, that are ushering in a new era of personalization and relevancy for CTV viewers. With this funding, Innovid will further advance its end-to-end CTV platform creating a more efficient workflow, while solving industry measurement challenges and expanding its global footprint to meet the evolving needs of its international client base of brands, media and creative agencies, and publishers.”
Innovid is working hand-in-hand with key publisher clients, including Hulu, Roku and Fox, to re-imagine the advertising experience for the consumer. In partnership with its publishing clients, Innovid led the creation of two industry firsts: consumer choice-based engagement ads and live Internet TV campaigns.
As the first-to-market with CTV ad technology five years ago, Innovid currently reaches more than 75 million households and works across the largest footprint of connected and streaming devices including integrations with Roku, Amazon Fire, Apple TV, Samsung TV and more.
Innovid recently launched OTT COMPOSER, the premiere self-service authoring tool to create and publish experiences for connected TV advertising. Innovid says it solves a problem in today’s fragmented CTV landscape by better enabling advertisers to scale dynamic creative.
“As an early mover in CTV with established inventory supply partners, Innovid is well positioned to capture the massive secular shift in CTV consumption,” said Hillel Moerman, head of Goldman Sachs’ Private Capital Investing group. “Innovid has differentiated video advertising software and technology, and has the scale and the reach to succeed, with access to significant supply beyond CTV, including platforms such as Facebook, Instagram, YouTube, Snap and others.”