Ad tech platform Jivox Secures $5.8M in Series C led by US-based Fortisure Ventures
Bangalore- and California-based Jivox Software India Pvt Ltd, a multi-screen interactive advertising technology company, has secured $5.8 million in Series C round of funding, led by San Francisco-based Fortisure Ventures, with participation from Shah Capital and existing investors Opus Capital and Helion Advisors. The proceeds will be used to expand its sales & marketing and also for product development.
"Interactive advertising is going through a dramatic change as consumers move from desktop computers to tablets and smartphones to consume content. Legacy ad platforms have been unable to cater to the need for brands to deliver interactive ads across screens due to their dependence on Adobe Flash technology. This is creating a tremendous demand for HTML5 based multi-screen ad platforms like Jivox," said Diaz Nesamoney, founder and CEO, Jivox.
In November 2011, Jivox had raised $8.2 million, led by Fortisure Ventures, with participation from Opus Capital and Helion Venture Partners.
Jivox was founded in 2006 by Nesamoney, a BITS Pilani alumnus. Jivox's IQ platform enables digital agencies and publishers to produce and deliver engaging ads that are multi-screen and data-driven. The firm claims that using its platform, interactive ads can be easily authored and served in-stream, in-banner and on smartphones and tablet devices featuring video, rich media, dynamic content, customisable widgets and social sharing. It also eliminates the process of traditional code-based approaches and the challenges associated with delivering interactive ads across multiple screens and connected devices.
Jivox also provides sophisticated campaign performance tracking, demographic analytics and purchase intent analytics via its proprietary real-time analytics platform. Its key clients include College Humor, Federated Media, FUOR Digital, Havas, Interactive One, Martha Stewart, Martini Media, Mojiva, Sun Times Media, Universal McCann and Videology.
Last month, the firm had appointed Rick Kleczkowski as chief operating officer (COO).
This is Helion's second investment this year. Last month, the VC firm along with Accel Partners had invested under $1 million in Hyderabad-based MySmartPrice.com, a price comparison site for products across categories.
(Edited by Joby Puthuparampil Johnson)