INVIDI Technologies Corporation, a New York-based developer of advanced addressable advertising solutions for television, has secured over $23m in a financing round. The investment was led by Google (NASDAQ: GOOG), with participation from GroupM (a unit of holding company WPP), Motorola Ventures, and venture capital firms Menlo Ventures, InterWest, EnerTech, Westbury Equity Partners, BDC Capital, and others.
As part of Google’s commitment, Shishir Mehrotra, Director of Product Management for Google TV Ads and YouTube Ads, has joined INVIDI’s board of directors. The two companies have also agreed to work together on projects of mutual interest that will bring value to INVIDI’s customers.
INVIDI, which is focused on the television advertising industry and offers a suite of proprietary and standards-based advanced advertising technologies, is rolling out its capabilities across cable, satellite, telco and IPTV platforms in the United States and abroad.
FinSMEs
05/05/2010