Jivox today announced it secured $ 8.2 million in financing to support rapid adoption of its interactive video advertising technology. Fortisure Ventures led the round and existing investors Opus Capital, Helion Advisors and Diaz Nesamoney reaffirmed their commitment to Jivox through their participation. In addition to the new financing, Mani Subramanian, CEO of Fortisure Ventures and John Squires, CEO of Akademos will join Jivoxs Board of Directors.
The industry is at a tipping point as advertisers now understand the need for more engaging and creative interactive ads that reach viewers on multiple screens and across social channels, said Diaz Nesamoney, CEO and founder of Jivox. 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.
A new eMarketer forecast estimates mobile ad spending in the US will reach $ 1.23 billion this year, a 65 percent increase over 2010. As such, mobile is increasingly part of the overall ad buy and ensuring video ads effectively run on multiple screens without complexities is no longer an option but a must. Jivox, which currently delivers more than 1,000 interactive video ad campaigns a month, is uniquely positioned to address this market need as it is the only platform that truly enables interactive video ads to run on multiple screens with an ad serving infrastructure that can deliver at scale.
Were very excited about Jivoxs success in the market and see great potential in the companys ability to fundamentally alter the way interactive digital video ads are created, delivered and measured, said Mani Subramanian, CEO of Fortisure Ventures. As an investment firm that prides itself on identifying breakthrough innovators, we believe that Jivoxs unique interactive technology will advance the advertising industry and help bring creativity and innovation to digital video, thereby encouraging more brands to spend on digital media.
In addition to the funding, Jivox announced two new board members:
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