BANGALORE: Jivox, an interactive online video advertising company, has bagged $8.2 million funding from Fortisure Ventures LLC, which is headed by an Indian chief executive and three institutional investors.
The US-based Jivox has got a development office here and it will be making use of the fund in financing rapid adoption of its video advertising technology platform. The three institutional investors in the company are Opus Capital, Helion Advisors and Akademos.
Diaz Nesamoney, Jivox Chief Executive, said, “The industry is at a tipping point as advertisers understand the need for more engaging and creative interactive ads that reach viewers on multiple screens and across social channels. Mobile is becoming a part of the overall ad buy, and ensuring video ads run on multiple screens without complexities is no longer an option but a must.”
Moreover, a new eMarketer forecast projects that mobile ad spending in the US will touch $1.23 billion during 2011, witnessing 65% surge as compared to 2010.
Jivox delivers almost 1,000-interactive video ad campaigns per month.
Mani Subramanian, Fortisure Ventures chief executive, said, “We see huge potential for Jivox to alter the way interactive digital video ads are created, delivered and measured. As an investment firm that prides in innovations in the ad market, we believe Jivox technology will attract more brands to spend on digital media.”