Innovid, the video advertising specialist, has received $30 million in backing from
Goldman Sachs Private Capital Investing to bolster its connected TV ambitions. The company says it plans to use the funds to create an end-to-end CTV platform.
With the latest Series E funding round, Innovid to date has received a total of $95.1 million in funds.
“With this funding, Innovid will complete the development of the first 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 for brands, media and creative agencies, and publishers,” explained Zvika Netter, CEO of Innovid.
The group already works with large advertisers such as Bank of America, Campbell’s and L’Oreal, providing brands with the ability to deliver videos to streaming platforms such as Apple TV and Samsung TV.
“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,” added Hillel Moerman, head of Goldman Sachs’ Private Capital Investing group.
Through the latest funding, Innovid will be able to expand its footprint in connected TV globally.