ScanScout Completes $8.5 Million Series B Funding Round
Latest round led by Singapore-based EDB Investments
BOSTON, Oct. 28 /PRNewswire/ -- ScanScout ( http://www.scanscout.com ) today announced that Singapore-based EDB Investments (EDBI) has made an investment in ScanScout to close the in-stream video ad provider's series B round at $8.5 million. The new funds will aid growth of the company in the United States as well as establish new developments in the Asian market, including the company's new Singapore headquarters, its first office in the region.
The strategic investment from EDBI follows the launch of ScanScout's new Super Pre-Roll video ad unit. The format solves pre-roll's engagement limitations by integrating interactive elements into the ads and creates an environment that is more compelling for viewers and beneficial for brands.
"ScanScout continues to provide advertisers and consumers the best experience with in-stream video ads and EDBI's investment will ensure that we maintain that practice," said Bill Day, CEO, ScanScout. "Adding EDBI as an investor is a testament to ScanScout's desire to grow both domestically and internationally and is a resounding endorsement of the potential of online video industry."
"ScanScout has proprietary technologies that are scalable and borderless, and fits very well with EDBI's investment interests in the exciting field of digital media," said Swee-Yeok Chu, CEO of EDB Investments. "With its novel underlying technologies and the strong growth of online videos in the industry, we look forward to ScanScout expanding its international footprint and growing new capabilities in Singapore as its global launch point in Asia."
Over the past year, ScanScout has experienced tremendous growth. ScanScout was ranked by comScore in July 2009 as the largest online video ad network and its network of 600-plus premium publishers continues to grow rapidly due to market-beating CPM pricing and the ability to monetize both pre-roll and overlay ad impressions. ScanScout is the only comprehensive online video advertising company in the market today with an at-scale network for both pre-roll and overlay ad units. Over the last year, ScanScout has run several hundred ad campaigns for leading ad agencies and their clients.
The popularity of online video continues to grow at an impressive rate across the globe. In the United States alone, advertising revenue within the medium is projected to eclipse $4b by 2013 with 85 percent of U.S. Internet users interacting with online video, according to recent eMarketer reports.
ScanScout is video advertising that guarantees results. As the leading in-stream video advertising provider, the company connects advertisers and consumers through online video maximizing brand impact and providing unmatched transparency and measurability within the industry. By utilizing breakthrough proprietary technology that ensures precision targeting, real-time optimization and brand protection, ScanScout generates engagement and value throughout the entire video-viewing experience. Partners include more than 600 premium sites including RealNetworks, Fox News and Broadway.tv. For more information, please visit: www.scanscout.com.
About EDB Investments
EDB Investments (EDBI) is a leading investment firm headquartered in Singapore with worldwide presence. EDBI invests globally in the innovative and dynamic sectors of Biomedical Sciences, Clean Technologies, Digital Media, as well as key industries in Singapore. As a value adding investor, EDBI works closely with its portfolio companies, leveraging on its extensive networks and experience to help bridge and drive the companies' growth strategies for Asia. For more information please visit www.edbi.com.
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