Anyone who’s watched “Black Mirror: Bandersnatch” on Netflix can tell you: Interactive video is cool. That’s what adtech company Innovid has been working on since they launched in 2007 — and they just announced $30 million in pre-IPO funding to expand the technology even further.
The company uses its interactive technology to get consumers to truly engage with a brand — we’re talking “choose your own adventure,” but for advertisements. Currently, the company is able to integrate with devices like Roku, Amazon Fire and Apple TV, and their technology reaches more than 75 million households around the world.
Our technology platform is enabling new advertising models, including addressable and interactive ads, that are ushering in a new era of personalization and relevancy for CTV viewers.”
“Innovid continues to push the boundaries for what is possible with video advertising across all screens, especially on CTV,” CEO and co-founder Zvika Netter said in a press release. “Our technology platform is enabling new advertising models, including addressable and interactive ads, that are ushering in a new era of personalization and relevancy for CTV viewers.”
Goldman Sachs’ Private Capital Investing group was the sole investor, bringing the company's total funding amount to $95.1 million.
Innovid has offices in NYC, Chicago, San Francisco, Los Angeles, London, Tel Aviv, Sydney and Singapore and they’re looking to expand. The company plans to use the latest funding to grow globally and advance their end-to-end CTV platform.
And judging by the size and notoriety of some of their clients — such as Bank of America, L’oreal, Samsung — they’re sure to gain momentum in the coming months.