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Blue Chip Venture Company helps Genesis Media raise $10m

14 Apr 2014

ecommerceBlue Chip Venture Company has led a $10m Series B round for video technology startup Genesis Media.

The round, which was also backed by Crown Predator Holdings, includes $6m in equity and a $4m revolving credit facility, said the company.

Genesis Media will use the funding to support new product development.

The company’s customers include American Media, Bauer Media Group, Bonnier Corporation, Smithsonian, and USA Today.

Its technology first assesses the “value” of each user to a publisher to determine when, how and if an advertisement is served to a user when they visit a publisher’s site.

Genesis co-founder Richard Smullen said, “The market for online video advertising is booming as advertisers invest in digital.

“Genesis Media’s technology will help publishers take advantage of this investment by helping premium publishers create new and innovative ways to monetize their content.

“Genesis Media is thus perfectly positioned to meet industry needs, which will enable us to grow quickly.”

Other companies backed by Blue Chip include social media advertising technology company Kinetic Social, which raised $8m in a Series A round backed by the firm last year.

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