BALTIMORE, MD – TidalTV, a video advertising, optimization, and yield management solutions provider, has raised more than $30 million in financing led by New Enterprise Associates (NEA), with participation from other existing investors Comcast Interactive Capital and Valhalla Partners.
The company says the new funding will support the aggressive expansion of TidalTV’s technology into new global markets throughout 2011 and the deployment of its proprietary ad decisioning solutions into new multi-screen applications for advertisers, media agencies and publishers.
TidalTV launched as a technology platform in late 2007. It was founded by Advertising.com co-founder Scott Ferber.
The investment nearly doubles TidalTV’s last financing, allowing the company to build momentum in the rapidly growing video advertising category and to deliver advanced capabilities in targeting the right ad, to the right person, at the right time, across platforms. eMarketer estimates that by 2015, 76% of internet users, or 195.5 million people will be watching online video each month. In the same period, it predicts online video advertising spending will surge from $1.97 billion to $5.71 billion.
“Our focus on bringing math and science into the branded advertising space has been well received, and truly illustrates the demand for more efficiency and effectiveness in brand marketing,” said Ferber, chairman & CEO of TidalTV.
“I have never experienced such eagerness to invest into the growth of a company by existing investors, so much so that we could not accommodate all the demand. This infusion of capital will advance TidalTV’s position as a leader in video-based advertising solutions for advertisers and publishers through investments in premier human capital, expansion into new global markets and the development of innovative product suites.”
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