Digital video advertising services firm BrightRoll has closed $30 million in financing led by new investor Trident Capital, whose senior managing director Evangelos Simoudis will be joining the BrightRoll board. Existing investors True Ventures, Scale Venture Partners and Adams Street Partners all participated, as did Comerica Bank.
The funding will be used to support the company’s program of making significant investments in technology and research, as well as adding talent in key operations and strategic roles, as BrightRoll expands its network, exchange and mobile video solution products.
According to data from comScore and BrightRoll internal reporting, the company currently manages 2.25 billion video ads per month, which works out to almost a third of U.S. video ads served.
“As long-term adtech investors, we continually look for companies with a leadership position in important sectors of the online advertising space. After following online video advertising for some time we have decided to invest in BrightRoll, which we consider one of the market leaders. We are impressed by the company’s leadership, vision and cutting-edge technology,” Simoudis said. “Tod and the rest of the executive team have built a solid company and we look forward to helping them continue to grow the business.”
Press release – http://tinyurl.com/7s2zbkaPhoto by Flickr user AMagill, used under Creative Commons license