Contact Information: For More Information: Lindsey Zouein or Lindsey Scott LaunchSquad Phone: 415-625-8555 Email: brightroll(at)launchsquad(dot)com
BrightRoll Secures $10M in Funding Led by Scale Venture Partners
Video Ad Network Also Announces Profitability, Plans for Expansion
| Source: BrightRoll
SAN FRANCISCO, CA--(Marketwire - February 3, 2010) - 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 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.
About BrightRoll
BrightRoll is the world's largest and most trusted video advertising
network, having served billions of advertisements since it was founded.
BrightRoll helps major brands and agencies execute "smart video ad
campaigns" across the industry's leading publishers, including
three-fourths of the top 100 online media properties in the United States.
BrightRoll's proprietary campaign execution, inventory management and
advertising delivery technology provide brands and agencies with the reach,
frequency and scalability needed to achieve their campaign goals.
BrightRoll is a privately held, venture-backed company and is headquartered
in San Francisco, California. BrightRoll offers its service at
www.brightroll.com.
About Scale Venture Partners
Based in Foster City, California, the ScaleVP team is a long-standing
partnership with a consistent, top quartile track record of returns for the
past decade. ScaleVP's market-tested investment strategy, extensive
operating networks and go-to-market expertise help identify and build
successful portfolio companies in technology and healthcare markets. The
ScaleVP team's collaborative and active approach provides entrepreneurs a
competitive advantage for growth and category leadership. Representative
portfolio companies include Alimera Sciences ExactTarget, Frontbridge, IPC
The Hospitalist Company, mBlox, Monolithic Power Systems, National Healing,
NComputing, Omniture, Orexigen, ScanSafe, Everyday Health, and Zogenix. For
more information, visit www.scalevp.com.