Connatix Raises $15 Million to Fund Innovation as More Publishers Expand Into Video
Volition Capital Leads Investment to Close Gap Between Consumer Demands and Publisher Capabilities
24 Oct, 2017, 09:02 ET
NEW YORK, Oct. 24, 2017 /PRNewswire/ -- Connatix (www.connatix.com) today announced that it has secured $15 million in growth equity funding to accelerate its position as the fastest-growing video technology provider and syndication platform for premium content publishers.
Volition Capital led the round of funding and Larry Cheng, Managing Partner at Volition Capital will join Connatix founders David Kashak and Oren Stern on the board of directors.
"Connatix makes it simple for publishers to overcome the challenges of monetization, quality,and limited reach of valuable video content ," said David Kashak, CEO of Connatix. "This capital gives us additional resources for rapid expansion and strategic innovation, as we deliver on our vision of ensuring publishers stay ahead of emerging trends and media formats."
Founded in 2014, Connatix has consistently earned industry acclaim, including a #2 ranking in comScore's Video Metrix measurement of audience reach. The company pioneered native video by simplifying how publishers develop unique video content and new monetization channels where they can tap into growing advertising dollars. Connatix gives publishers the tools to rapidly create unique video content from their own or Connatix' library and further enables outlets such as Mashable, Time Inc., Billboard and Entrepreneur to syndicate their video content across their own properties or those outside their business. Today the company serves more than 3 billion video views-per-month as a platform that automates the creative process with efficient ad serving and the best available levels of brand safety.
"As demonstrated by their remarkable triple-digit growth and the widespread adoption among premium content publishers, Connatix is the clear market leader in the development and delivery of innovative video solutions," said Cheng. "We look forward to working alongside Connatix and bringing all of our resources to bear to support their continued growth."
Connatix has remained consistently profitable while bootstrapping its organic growth. Connatix opted to work with Volition and raise outside capital to accelerate innovation in product development and invest in additional sales and marketing resources.
"As the digital publishing industry continues to rapidly evolve, Connatix has always been the first to identify market trends and provide solutions to help publishers stay ahead of the game," said Kashak. "Our ability to move fast and introduce new capabilities is a testament to the strength of our team and allows us to uphold our commitment to being a true partner with our publishers."
Connatix (www.connatix.com), is the most advanced native video syndication and monetization platform for publishers. It provides publishers the ability to easily integrate videos inheriting the styles and look and feel from the page, keeping bandwidth utilization to a minimum and providing a fast user experience across all devices. Connatix has created a strong foothold in the native advertising world since its founding in 2014, working with more than 4,000 publishers and partners and was ranked #2 in comScore Video Metrix.
About Volition Capital
Volition Capital is a technology growth equity fund based in Boston, MA. Volition specializes in investing in high-growth, principally bootstrapped technology companies across several sectors including software/SaaS, enterprise and consumer Internet application, technology-enabled services, and mobile companies. The firm has managed over 20 portfolio companies with over $500 million in assets under management.
Media Contact: Joe McGurk, [email protected]
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