Interactive Ad Startup Jivox Raises $5.8 Million
Digital ad tech startup Jivox has raised $5.8 million in a Series C round led by SF-based Fortisure Ventures, with participation from Shah Capital and existing investors like Diaz Nesamoney (company founder and CEO), Opus Capital, and Helion Advisors.
Jivox says it will use the new funds to expand sales and marketing and invest in its flagship product, Jivox IQ, an ad product that allows clients to serve interactive ads (videos, rich media, etc.) in-stream, in-banner, and on smartphone and tablet devices.
“Legacy ad platforms have been unable to cater to the need for brands to deliver interactive ads across screens due to their dependence on Adobe Flash technology,” said Nesamoney in the announcement. “This is creating a tremendous demand for HTML5-based multi-screen ad platforms like Jivox. This investment will allow us to accelerate our market leadership.”
Jivox cites an ANA and Nielsen study, which found that spend on mutli-screen ad campaigns is expected to grow from 20% to 50% of budgets in the next three years. Jivox wants to be able to tap into that growing demand — though a cynic would point out that a lot of that growth, if it happens, would be restricted to digital ad platforms and servers that allow advertisers to slap repackaged TV ads.Tags: ANA, financing, Interactive Advertising, jivox, nielsen, Video Advertising