Videoplaza, a Swedish video monetisation platform for the New IP-delivered TV, has closed a $12m Series B financing round from existing backers Creandum and Northzone, and new investors Innovacom and Qualcomm Ventures.
Videoplaza, which was founded in Stockholm in 2007, is building a sell-side advertisement platform for the New IP-delivered TV. The company serves clients from six offices in Europe and Asia, including its London headquarters.
The business has clients in 17 countries including broadcasters such as M6 and the RTL Group. The recent funding round will enable the company will to execute its product roadmap and to continue international expansion, it said.
Traditionally the TV advertising market has represented a large opportunity – with a value today of around $160bn. As consumption evolves from broadcast to IP delivered content, publishers and broadcasters must gear up commercially and technologically to take advantage of this spend as it shifts on to new channels.
Videoplaza co-founder and CEO Sorosh Tavakoli said, “Television is the king of advertising media and is going through an unprecedented transition to IP delivered consumption on multiple devices. Videoplaza is at the forefront of empowering broadcasters, publishers and networks to maximize their advertising revenues in this New IP delivered TV world. We are delighted to welcome Innovacom and Qualcomm on board as we continue to build the leading global sell side platform for the New TV.”
Qualcomm has been an active global venture investor recently. In December the firm joined Hong Kong-based IDG Capital and Singapore state investor Temasek in leading a $90m Series B tranche of funding for China-based affordable smartphone company Xiaomi.
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