Campaign India Team
Nov 03, 2011

Jivox announces $8.2 million in funding to meet demand of interactive video ads

Mani Subramanian, chief executive officer, Fortisure Ventures LLC and John Squires, chief executive officer, Akademos were announced as the new board members

Jivox announces $8.2 million in funding to meet demand of interactive video ads

Global interactive online video advertising company, Jivox has announced that it has 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, chief executive officer, Fortisure Ventures and John Squires, chief executive officer, Akademos will join Jivox’s Board of Directors.

Diaz Nesamoney, chief executive officer, founder, Jivox, said, “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. 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 realise our vision of bringing interactive ad technologies to all screens.”

Mani Subramanian, chief executive officer, Fortisure Ventures, said, “We’re very excited about the success Jivox is having in the market and see the potential of Jivox to fundamentally alter the way interactive digital video ads are created, delivered and measured. As an investment firm that prides itself on identifying breakthrough innovations in the ad market, we believe that Jivox’s interactive advertising technology will advance this industry and help bring creativity and innovation to digital video, attracting more brands to spend on digital media.”

Naren Nachiappan, managing director, Jivox, added, “The APAC region and India in particular represent an increasingly sophisticated market with a proliferation of video enabled smart devices that are handheld, in the car, and at home. Jivox platform’s ability to seamlessly create, deliver and optimise interactive video ads across this range of devices makes it a great fit for this market, and this investment will allow us to accelerate our growth here.” 

Source:
Campaign India

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