TubeMogul Raises $10 Million for Asian Expansion
Second tranche of the company's Series C financing, led by SingTel Innov8, will be used to expand programmatic buying of video ads worldwide
SINGAPORE, May 29, 2013 /PRNewswire/ -- TubeMogul announced that it successfully completed the second tranche of its Series C funding today. The funds will be used to expand the footprint of programmatic buying of video advertising throughout Asia.
TubeMogul is backed by venture capital from a diverse group of financial and media heavyweights from both Asia and the United States. This round of financing was led by SingTel Innov8, the corporate venture capital arm of the SingTel Group. Cross Creek Capital, a venture fund associated with Wasatch Advisors, also participated in this round along with existing investors Digital Advertising Consortium, Foundation Capital and Trinity Ventures.
"TubeMogul fits perfectly into our strategy of investing in top advertising companies that are poised for rapid growth in Asia," says Punit Chiniwalla, Director, SingTel Innov8. "We are impressed by the product and team on the ground and look forward to working more closely with the company."
The company plans to use the capital to ramp up information technology infrastructure and hires in a region where it is already seeing traction. In the past year, TubeMogul's offices in Singapore and Sydney have grown from having a handful of sales executives to full teams spanning account management, marketing, and operations and planning. In addition, TubeMogul Japan, which was launched in February and led by CEO Masahiro Kano, has already signed on with several of the country's leading advertisers, including Digital Advertising Consortium and Omnibus.
In line with its expansion, TubeMogul opened an office in Beijing today, headed by Director of Business Development Sven Rossbach. Previously, Mr. Rossbach helped Cadreon (Interpublic Group's trading desk) develop a presence in Asia, pioneering global technology partnerships. At TubeMogul, Mr. Rossbach's responsibility is simple: introduce Chinese brand marketers and publishers to the programmatic buying of video ads, and grow TubeMogul's presence.
"Our private investments are focused on high-growth, late-stage companies with the potential to become public companies and TubeMogul fits that bill," says Karey Barker, CFA, Managing Director at Cross Creek Capital. "TubeMogul will continue to see high growth as marketers adapt to changing consumer viewing habits."
"Partnering with best-in-class buying platform TubeMogul will help DAC continue to push the frontiers of real-time buying in Japan," said Hirotake Yajima, President and CEO at DAC. "The result creates a powerhouse for marketers looking to harness the persuasive power of video advertising."
"TubeMogul is simplifying what was once a complex ecosystem for brand marketers and quantifiably delivering on their goals," says Ashu Garg, General Partner at Foundation Capital. "We look forward to continued collaboration with the company."
"TubeMogul's singular focus on the intersection of branding and technology is resonating with marketers. In just over four years since Trinity first invested, TubeMogul has become an undisputed leader in programmatic brand advertising. We are delighted that TubeMogul is building a world-wide organization to bring its solution to marketers around the globe," says Ajay Chopra, General Partner at Trinity Ventures.
TubeMogul is the leader in programmatic brand marketing. The world's largest brands and agencies centralize their video advertising on TubeMogul's enterprise platform. Created specifically for brand marketers, TubeMogul's platform enables the execution of scalable digital video campaigns, while providing the measurability and accountability marketers demand. Founded in 2006, TubeMogul is based in Emeryville, CA with offices in New York, London, Tokyo, Singapore, Sydney, Toronto, Chicago, Detroit, Austin and Los Angeles.
About SingTel Innov8
SingTel Innov8 (Innov8), a wholly-owned subsidiary of the SingTel Group, is a corporate venture capital fund, with its own set of decision making, approval and funding processes. It has an initial fund size of S$200 million. Innov8 focuses its investments on technologies and solutions that lead to quantum changes in network capabilities, next generation devices, digital content services and enablers to enhance customer experience. It works closely with the ecosystem of leading innovators, developers, government agencies, R&D and capital providers to bring cutting-edge technologies and solutions to the various markets the SingTel Group operates in.
About Cross Creek Capital
Cross Creek is a venture capital firm founded in 2006 inside of Wasatch Advisors, Inc. Through its direct investment strategy and fund investment strategy the firm seeks to invest in what we believe are high-quality late-stage companies and top-tier venture capital funds. The strategies are mutually beneficial in their goal to strengthen ties between private and public investors and to achieve above market returns for limited partners.
About Digital Advertising Consortium
As an Advertising Business Integrator building a new business model to meet the needs of the era of Internet Media, D.A.Consortium Inc. (DAC) is contributing to the development of the 21st Century's Advertising Media. We provide excellent client services based on our three main services: Media, Operations and Technology.
About Foundation Capital
At Foundation Capital, we're dedicated to the proposition that one entrepreneur's idea, with the right support, can become a business that changes the world. We helped Atheros create the mobile Internet, EnerNOC invent the energy demand response market, and Netflix revolutionize media distribution and consumption, among many others. We're currently invested in more than 80 high-growth ventures in the areas of consumer, information technology, software, semiconductors, and clean technology including BoardVantage, Chegg, Coverity, Lending Club, MobileIron, Simply Hired, Sunrun, TubeMogul and Venafi. Foundation Capital's eighteen initial public offerings include Envestnet, Financial Engines, Netflix, NetZero, Responsys and Silver Spring Networks. For more information, please visit www.foundationcapital.com.
About Trinity Ventures
Trinity Ventures is a boutique early stage venture firm with an unwavering dedication and respect for entrepreneurs. We are smart, focused, passionate professionals with significant experience, deep expertise and a sincere commitment to help entrepreneurs build enduring companies. We were founded in 1986 by two entrepreneurs who saw the opportunity for a different approach to venture capital — an approach long on collaboration, short on hierarchy, and with none of the "our way or the highway" mentality.
CONTACT: Rachel Egan, email@example.com
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