Global video advertising platform leader Innovid had quite a successful 2018. In the last year, the company was named as one of the Fastest Growing Companies in North America on Deloitte’s 2018 Technology 500 and recognized by Gartner as a company to watch in AdTech.
Beginning 2019 with a bang, the company announced that it has received a $30 million in a pre-IPO funding from Goldman Sachs’ Private Capital Investing group.
“Innovid continues to push the boundaries for what is possible with video advertising across all screens, especially on CTV,” said Zvika Netter, CEO and Co-Founder of Innovid. “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. With this funding, Innovid will further advance its end-to-end CTV platform creating a more efficient workflow, while solving industry measurement challenges and expanding its global footprint to meet the evolving needs of its international client base of brands, media and creative agencies, and publishers.”
“As an early mover in CTV with established inventory supply partners, Innovid is well positioned to capture the massive secular shift in CTV consumption,” said Hillel Moerman, head of Goldman Sachs’ Private Capital Investing group. “Innovid has differentiated video advertising software and technology, and has the scale and the reach to succeed, with access to significant supply beyond CTV, including platforms such as Facebook, Instagram, YouTube, Snap and others.”
As part of the deal, Holger Staude of Goldman Sachs’ Private Capital Investing group will join Innovid’s prior investors from SEQUOIA, Newspring and Genesis on the company’s Board of Directors. The company plans to use the new capital to further its innovation and leadership in the connected TV (CTV) advertising technology market, as well as to expand its global footprint.