Invidi Technologies Gets $23 Million Fourth Round From Google, GroupM
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TV ad targeter Invidi Technologies has netted a huge $23 million fourth round led by Google (NSDQ: GOOG) and WPP media unit GroupM. When WPP first invested in Invidi almost three years ago, its backing of the Princeton, NJ-based ad delivery system was considered a way to blunt Google’s moves into TV ad targeting. Now, the partnership can be seen as a way for Google to speed up its efforts in that area, which have been fairly slow-going.
As part of Google’s involvement, Shishir Mehrotra, Director of Product Management for Google TV Ads and YouTube Ads, has joined Invidi’s board. In addition to its investment in Invidi, the two companies have “agreed to work together on projects of mutual interest that will bring value to Invidi’s customers,” though no specifics were provided.
SEE ALSO: TV Ad Targeter Invidi Gets Investment From Motorola
In addition to WPP, Motorola (NYSE: MOT), which participated in the last funding, also returned. Other backers in this latest round included Menlo Ventures, InterWest, EnerTech, Westbury Equity Partners, BDC Capital, and others.
Posted In: Advertising, Media & Publishing, TV, Cable & Telecom, Money, M&A & Venture Capital, Venture Capital, Companies, Google, bdc venture capital, enertech capital, groupm, interwest partners, invidi, menlo ventures, westbury equity partners
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