BlackArrow, which sells ad systems designed to reach what the company calls users of “new-TV” (DVR customers, mobile TV etc.) has raised $20 million in a third round of funding. The round was led by NDS Group, which provides DRM and other technology to digital pay TV providers. The companies are describing NDS’s involvement as a “strategic investment” and say they will now “offer an integrated suite of end-to-end advanced TV advertising solutions and system integration services for the advancement of next-generation TV advertising.” More details on what that will involve here.
The funding brings BlackArrow’s total venture capital backing to nearly $60 million; the startup raised $38 million in a second round a year-and-a-half ago. In addition to NDS, existing investors Cisco Systems (NSDQ: CSCO), Comcast (NSDQ: CMCSA) Interactive Capital, Intel (NSDQ: INTC) Capital, Mayfield Fund and Polaris Venture Partners all participated. NDS is owned by News Corp (NYSE: NWS). as well as PE firm Permira Funds.