Auditude, a Palo Alto, CA-based advertising technology provider for IP video, has raised $11m in Series B financing. The round was led by Granite Ventures, with participation from new investor Silicon Valley Bank and existing investors Greylock Partners and Redpoint Ventures.
In conjunction with the financing, Chris Hollenbeck, managing director at Granite Ventures, has joined the company’s board of directors.
In addition, Jeremy Helfand (photo), former president of United Online Media Group and Advertising.com senior executive, has joined Auditude as CEO. Adam Cahan, who has led the company for the past three and a half years, will continue to serve as an advisor.
Auditude intends to use the new capital to continue to develop its technology, including further expansion into mobile video, IP-enabled devices and premium distribution channels.
As a video management and monetization technology provider, the company partners with content owners and websites to monetize their video assets. Clients include Comcast, Dailymotion, Dick Clark Productions, Fox News, Lionsgate, Major League Baseball, UK’s Channel Five, Sony Music, Starz Media, Universal Music Group, World Wrestling Entertainment, Yahoo!. Auditude has offices in Los Angeles, New York City and London.
FinSMEs
24/01/2011