NEW YORK, Feb. 16 /PRNewswire/ -- TidalTV, a leading video advertising, optimization and yield management solutions provider, today announced it has raised more than $16 million in recent Series B funding led by Comcast Interactive Capital, as well as New Enterprise Associates (NEA) and Valhalla Partners. The new funding not only provides TidalTV with the ability to invest additional resources in online video advertising and monetization solutions for advertisers and publishers, but it also validates its proprietary video ad decisioning technology.
Comcast Interactive Capital's Managing Director David Horowitz will join TidalTV's Board, illustrating Comcast's commitment to investing in promising media companies that align with their online video priorities.
TidalTV experienced tremendous business success in 2009, supported by a rapidly expanding roster of world-class advertisers, substantial revenue growth, and the development and deployment of new and innovative video advertising targeting and monetization technologies. TidalTV previously announced a strategic partnership with WPP's GroupM as the third-party optimization and yield management technology partner for its advanced television initiative.
"Despite a challenging economic environment, TidalTV's progress illustrates the demand for more efficiency and effectiveness in branded advertising. The additional capital will accelerate TidalTV's position as leader in video-based advertising solutions for advertisers and publishers," said Scott Ferber, Chairman & CEO of TidalTV.
With this new Series B funding, TidalTV intends to aggressively expand its development of advanced targeting and ad decisioning capabilities within the video marketplace, as well as continue to offer innovative products and solutions for advertisers and publishers.
"The online video space is poised for incredible growth, and Scott Ferber and his team have a fantastic track record in the online advertising space," said Patrick Kerins, General Partner of NEA. "We believe that TidalTV will continue to grow rapidly as a leader in advanced targeting and optimization for online video advertising, as well as other emerging advertising platforms in the very near future."
TidalTV is a video advertising, optimization, and yield management solutions provider. Its AdOSTM technology leverages the power of data and mathematics to guarantee delivery of a brand's message against a target demographic, and enables content creators and publishers to completely monetize audiences across demographic segments. Currently, TidalTV has deployed its technology for online video and is working to expand its reach to all video delivery platforms. Chairman & CEO, Scott Ferber pioneered pay-for-performance Internet marketing through superior analytics with Advertising.com, an online advertising network he co-founded in 1998. With TidalTV, Ferber is applying complex optimization mathematics to the management and delivery of video advertising campaigns, and enabling superior advertiser returns, campaign efficiency and publisher yield. TidalTV is a venture capital backed company; investors include Comcast Interactive Capital, New Enterprise Associates, Valhalla Partners, Boulder Ventures, New Market Growth Fund and other private investors. For more information visit: www.tidaltv.com.