Goldman Sachs Invests $30M In Video Marketing Firm Innovid
Online video marketing firm Innovid announced that it raised $30 million in pre-IPO funding from Goldman Sachs. Innovid says will use the capital to further its innovation and leadership in the connected TV (CTV) advertising technology market, and expand its global footprint.
Founded in 2007 by CEO Zvika Netter, Innovid is a leading video platform for advertisers to create, deliver and measure video experiences on any device. The company, based in New York, has offices in Tel Aviv, Chicago, San Francisco, Los Angeles, London, Sydney, and Singapore.
Its corporate clients include L’Oreal, Toyota, Bank of America, GlaxoSmithKline, and Campbell’s. Innovid also works with key publisher clients, including Hulu, Roku and Fox, amongst others, to “re-imagine the advertising experience for the consumer,” the company said in a statement.
“Innovid continues to push the boundaries for what is possible with video advertising across all screens, especially on CTV,” said Netter. “Our technology platform is enabling new advertising models, including addressable and interactive ads, that are ushering in a new era of personalization and relevancy for CTV viewers. With this funding, Innovid will further advance its end-to-end CTV platform creating a more efficient workflow, while solving industry measurement challenges and expanding its global footprint to meet the evolving needs of its international client base of brands, media and creative agencies, and publishers.”
“As an early mover in CTV with established inventory supply partners, Innovid is well positioned to capture the massive secular shift in CTV consumption,” said Hillel Moerman, head of Goldman Sachs’ Private Capital Investing group. “Innovid has differentiated video advertising software and technology, and has the scale and the reach to succeed, with access to significant supply beyond CTV, including platforms such as Facebook, Instagram, YouTube, Snap and others.”