JP Morgan may be forecasting slower growth for online video ads, but it looks like VCs are still feeling good about the format. One True Media, the California-based firm behind the self-serve SpotMixer video ad platform, has picked up $9 million in a second round of funding. DAG Ventures led the round, along with previous backer Kleiner Perkins Caufield & Byers and an investment from NTT Finance.

The firm plans to use the money to help scale SpotMixer, which is currently used by Yellowbook, YouTube and Google (NSDQ: GOOG) AdWords, but there are a host of well-funded competitors that provide similar, though not identical services: Overlay.TV picked up a $3.8 million second round in December and Blip.tv got $5.2 million in October to help develop new ad technology.

• Kleiner Perkins Invests $5 Million In Video Start-Up One True Media
• Video Ad Provider Overlay.TV Raises $3.8 Million Second Round