Adap.tv Secures $20M in Funding
Online video ad platform Adap.tv has closed a $20 million round of financing led by Bessemer Venture Partners. Gemini Israel Funds, Redpoint Ventures, and Spark Capital, already Adap.tv investors, also participated in this round.
Adap.tv plans to use this funding to support growth internationally, grow its technology platform, spur product development, and solidify its position in the U.S. online video advertising market.
Bessemer Venture Partners has previously taken part in financing rounds for LinkedIn, Skype, VeriSign, and Yelp. It's one of the older venture capital practices in the U.S.
"We have been closely following the evolution of online video advertising and Adap.tv's game-changing business model stands out from the rest of the competition," says Byron Deeter, partner at Bessemer Venture Partners. "Adap.tv's proven technology platform brings immediate value to its partners, and has positioned them as the leading marketplace for online video advertising."
The Adap.tv Marketplace launched in February, 2010, and already includes over 4,200 sites. It's ranked by comScore as the third largest online video property measured by video ads delivered.
"The investment helps us focus on expanding in areas where we see the greatest opportunity. This includes strengthening our cutting-edge platform and putting a deeper focus on international markets," says Amir Ashkenazi, CEO and co-founder of Adap.tv.
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