BrightRoll, the leading video advertising network, today announced it has secured $10M in Series C financing led by Scale Venture Partners, bringing the company’s total venture funding to $16M since its launch in July 2006. Existing investors True Ventures, Adams Street Capital and KPG Ventures also participated in this funding round. The company, which also announced today that it has been profitable for nearly the entire last 12 months, will use this round of financing to expand its technology platform, worldwide advertiser and publisher operations, and increase its leadership position in the U.S. BrightRoll also announced today that Rob Theis, Managing Director with Scale Venture Partners, has joined the board.
“Our first few years in business saw us rise to the top of the online advertising network rankings and reach profitability thanks to an emphasis on understanding our customers and the dynamic design of our cutting-edge technology platform. We proved we have the discipline to validate our model and long-term opportunity,” said Tod Sacerdoti, BrightRoll’s founder and CEO. “With these milestones achieved, we can use this new investment to drive growth at a time when there is more demand than ever for online advertising and we have the footing and track record to rapidly expand our solution set and grow in new and exciting directions.”
“The online video ad market will grow to billions of dollars over the next few years by disrupting the $70 billion television ad market,” said Rob Theis, Managing Director, Scale Venture Partners. “Given its momentum, even during the difficult 2009 economy, BrightRoll is well-positioned to extend its lead in this market. I’m excited to work with Tod and his team as they have become a preferred partner by many top agencies, advertisers and premier publishers.”
BrightRoll also disclosed today that it has surged ahead of Hulu in unique users per month, as measured by Quantcast, making BrightRoll the leading aggregator of premium video viewers in the United States. A number of milestones helped the company to achieve this industry-leading position, including its participation in Reckitt Benckiser’s $20M marketing shift spend to online in 2009. In tandem with a number of new pricing and measurement initiatives, BrightRoll opened a UK office and introduced global inventory access and Spanish-language targeting across the BrightRoll network of publishers, which includes three-quarters of the top 100 publishers in the United States.