December 13, 2007
INVIDI Technologies Corporation Completes $25 Million Third Round of Financing
GroupM Leads Round With Menlo Ventures, InterWest, and EnerTech Capital Investing in Targeted Advertising Solution Company
Princeton, NJ (December 13, 2007) – INVIDI Technologies Corporation, the leader in advanced targeted advertising for the broadband television industry, announced today it has secured $25 million in Series “C” financing from a global media giant and three leading American venture capital firms.
GroupM, a unit of holding company WPP, led the round while the other participants were repeat investors from INVIDI’s first two rounds: Menlo Ventures and InterWest Partners, both of Menlo Park, CA, and EnerTech Capital of Wayne, PA.
As part of WPP’s commitment to this new relationship, GroupM CEO Irwin Gotlieb has joined INVIDI’s board of directors.
INVIDI's proprietary technology infers who is watching the television at any given time, and its classifiers can identify with great accuracy the age, gender, location, income, and ethnicity of the viewer, while always maintaining absolute privacy and confidentiality. Since ads can be targeted according to some or all those classifiers, advertisers have the opportunity to target their audience with less waste and greater precision than ever. MSOs benefit from INVIDI’s tools by, among other reasons, being able to monetize more of their advertising inventory.
Online media has been taking an increasing share of advertiser dollars principally because of its targeting capabilities, accountability, and integration of consumer behavior. INVIDI's technology allows broadcast advertisers to take advantage of similar tools while maintaining the privacy and confidentiality of its viewers.
With the assistance of GroupM, INVIDI will be rolling out its capabilities across cable, satellite, and telephone company platforms. INVIDI is currently in active negotiations with multiple distribution channels for the deployment of its technology.
INVIDI has fostered close working relationships with Sarnoff Corporation, Motorola, Scientific Atlanta, Acxiom, Experian and Nielsen, among others.
“Television advertising has operated in much the same way since it started in 1947,” says INVIDI President David Downey. “Together with GroupM, we are truly building the television advertising technology of the future.”
“We look forward to participating in the enablement of advanced advertising solutions in television,” says GroupM’s Gotlieb. “Addressability is the first critical capability against that objective, and Invidi has the core technology to deliver the addressability function.”
About INVIDI Technologies Corporation