Innovid, a specialist in cross-channel advanced video, has announced Cisco Investments as a new investor in the company. Additionally, all original investors, including Genesis Partners, Sequoia Capital, and T-Venture, participated in the raise of $10 million.
Cisco and Innovid have teamed up to demonstrate interactive advertising to subscribers across any device—while providing a core platform that manages video for advertisers across multiple screens. This capability will help improve ad effectiveness by giving viewers more ways to interact with brands, explore products, and request information, as well as improve ad traction by holding the viewer’s attention and reducing channel changes during ads.
Innovid will use the infusion of capital to further its innovation and product offering for brands and media agencies, while continuing to grow its interactive and personalised video capabilities across multiple devices. These capabilities will help combat media fragmentation and empower advertisers to consolidate data from several sources. Innovid’s solutions transcend these screens and bridge behavioural gaps as never before.
“This investment is another validation of our continued leadership and innovation in a rapidly evolving market,” said Zvika Netter, CEO and co-founder of Innovid. “Targeting audiences with digital video across devices, in a way that’s smart and effective, is crucial to helping advertising connect relevant content with relevant audiences. Brands and marketers are waking up to realise that those possibilities now exist, and these are the conversations that drive and inspire us as a company.”
This new funding brings the total raised by Innovid to $37.6 million.