Invidi Technologies Corporation, 750 College Road East, Suite 175, Princeton 08540; 609-759-3580; fax, 609-759-3581. David Downey, president and CEO. www.invidi.com.
Invidi Technologies, a provider of targeted advertising for broadband TV services, has raised $23 million in Series-D funding from Google, WPP Group (and subsidiary GroupM), EnerTech Capital, InterWest Partners, and Menlo Ventures.
According to the company, Google leads the round and has taken such a liking to Invidi that Shishir Mehrotra, director of product management for Google TV ads and YouTube ads, has joined Invidi’s board of directors.
Invidi CEO David Downey said in a statement that the funding and the partnership with Google “will transform television advertising by increasing effectiveness and eliminating wasted reach.
This financing will accelerate our current efforts to deliver the functionality advertisers crave and the ability for operators and networks to increase the value of their advertising inventory.
We can deliver this functionality on any platform our customers desire, tailored to their specific network needs.”
Since ads can be targeted according to specific demographics, advertisers have the ability to more precisely reach their desired audience with the preferred ad at the right time, and with the appropriate frequency, according to Downey.
Multichannel video programming distributors are able to monetize more of their advertising inventory by aggregating audiences across various program sources and sending different spots to different members of an audience watching a single program.