Innovid gains $30MN cash injection | Media Investment | Business
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Video advertising platform provider Innovid has secured $30 million in pre-IPO funding from Goldman Sachs’ Private Capital Investing group.

innovid CEO 7Jan2019Innovid currently creates, delivers and measures video ads for the world’s largest brands and in partnership with its publishing clients, it led the creation of consumer choice-based engagement ads and live online TV campaigns. It currently reaches over 75 million households and works across a footprint of connected and streaming devices including integrations with Roku, Amazon Fire, Apple TV, Samsung and Fox. Current clients include companies such as L’Oreal, Toyota, Bank of America, GlaxoSmithKline and Campbell’s.

The company says that it will use the additional capital to further its innovation and leadership in the connected TV (CTV) advertising technology market, as well as to expand its global footprint.

“Innovid continues to push the boundaries for what is possible with video advertising across all screens, especially on CTV,” said CEO and co-founder Zvika Netter (pictured). “Our technology platform is enabling new advertising models, including addressable and interactive ads, that are ushering in a new era of personalisation 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,” added 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.”