Video ad network BrightRoll just closed a $30 million Series C financing. The equity financing was led by new investor Palo Alto-based Trident Capital (has more than $1.9 billion of capital under management). Existing investors True Ventures, Scale Venture Partners, Comerica Bank and Adams Street Partners also participated in the round.
Demand for video advertising is increasing faster than any other online ad format – projected to rise 54 percent in 2012 by eMarketer. This funding comes amid significant momentum as BrightRoll continues to double revenue year over year.
“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.” said Evangelos Simoudis, Sr. Managing Director of Trident Capital.
BrightRoll currently manages 2.25 billion video ads per month, or nearly 1 out of every 3 U.S. video ads served. Furthermore, the company now reaches more unique viewers than Hulu, ABC, CBS, FOX and NBC combined. Earlier this year, BrightRoll expanded internationally opening offices in the UK, Canada and Germany.
In September 2010, BrightRoll launched mobile video advertising enabling advertisers to execute both mobile and online video ad buys through a single platform. The company’s mobile network currently generates more than 250 million monthly pre-roll video impressions across 6,000 mobile apps and websites.