BrightRoll Secures $30 Million in Funding
November 15, 2011
Investment Comes Amid Continued Expansion of Network, Exchange and Mobile Video Solutions
SAN FRANCISCO, CA — BrightRoll, the leading provider of digital video advertising services, announces it closed $30 million in financing. New investor Trident Capital led the equity financing and Senior Managing Director Evangelos Simoudis will be joining the BrightRoll board. Existing investors True Ventures, Scale Venture Partners and Adams Street Partners all participated, as did Comerica Bank.
This funding comes amid significant momentum as BrightRoll continues to double revenue year over year. While demand for video advertising is increasing faster than any other online ad format – projected to rise 54 percent in 2012 by eMarketer – BrightRoll has continued to outpace the industry. The success is fueled by significant investments in technology and research, as well as expansion of the senior leadership team across key operations and strategic roles.
“As long-term adtech investors, we continually look for companies with a leadership position in important sectors of the online advertising space. After following online video advertising for some time we have decided to invest in BrightRoll, which we consider one of the market leaders. We are impressed by the company’s leadership, vision and cutting-edge technology,” said Simoudis. “Tod and the rest of the executive team have built a solid company and we look forward to helping them continue to grow the business.”
BrightRoll currently manages 2.25 billion video ads per month, or nearly 1 out of every 3 U.S. video ads served, according to data from comScore and BrightRoll internal reporting. Furthermore, the company now reaches more unique viewers than Hulu, ABC, CBS, FOX and NBC combined. Earlier this year, BrightRoll expanded internationally opening offices in the U.K., Canada and Germany, bringing the company’s industry-leading technologies and extensive suite of digital video solutions to global advertisers.
In September 2010, BrightRoll launched mobile video advertising enabling advertisers to execute both mobile and online video ad buys through a single platform. The company’s mobile network currently generates more than 250 million monthly pre-roll video impressions across 6,000 mobile apps and websites. Most recently, three of the top five mobile applications that collectively account for 600 million installs globally joined the company’s network.
“We are delighted to partner with Trident Capital as we enter into our next stage of growth,” said BrightRoll CEO Tod Sacerdoti. “Bolstered by this additional funding, we’re confident our combination of unmatched access to industry data, proprietary technology and research leadership will enable us to consistently provide the best solutions for clients.”
GCA Savvian served as exclusive financial advisor to BrightRoll in this transaction.
About Trident Capital
Trident Capital is a leading venture capital firm with more than $1.9 billion of capital under management, including its most recent fund, Trident Capital Fund VII. Trident invests in Software, Internet and Business Services companies across multiple stages, from early startup to venture growth. Trident has substantial investment experience, sector expertise and operating skills together with broad networks of entrepreneurs and industry executives. The firm has helped build large numbers of successful companies within its areas of focus since firm inception in 1993. Trident is broadly recognized as one of the leading investors in Cloud Computing, IT Security, Health Care IT, Online Advertising and Business Services. The firm is headquartered in Palo Alto, California. www.tridentcap.com.
With reach to 150 million monthly unique viewers globally, BrightRoll is the world’s largest and most trusted video ad network and the leading provider of digital video advertising services. The BrightRoll Network has access to billions of video impressions per month enabling advertisers to execute smart digital video campaigns across a massive pool of web and mobile video inventory. The company’s proprietary buying technology, combined with full site disclosure, detailed performance reports and flexible targeting provide brands and agencies with the reach, frequency and scalability needed to achieve campaign goals. BrightRoll is a privately held, venture-backed company headquartered in San Francisco, California. For more information visit www.brightroll.com.