BlackArrow Receives Financing from Time Warner Cable; Closes $27M Seris C Funding
BlackArrow, a San Jose, Calif.-based provider of advanced advertising solutions for New Television platforms, has received a financing of undisclosed amount from Time Warner Cable (NYSE: TWC).
The investment, which allowed the company to close its $27m Series C funding*, follows the one made by Motorola Mobility in November 2010**.
BlackArrow intends to use the capital for further product innovation and deployment of its Advanced Advertising System to programmers and New TV content distributors. The company’s multiplatform solution is designed to distribute video content over any on-demand platform, enabling networks and content distributors to manage the technological complexities and business issues within on-demand television advertising environments.
In conjunction with the funding, Joan Gillman, president, media sales for Time Warner Cable, has joined BlackArrow’s board.
Led by CEO Dean Denhart, the company also has offices in New York.
* 19/04/2010: BlackArrow Raises $20M