SAN MATEO, California, March 29, 2011 /PRNewswire/ -- Adap.tv, the platform that makes buying and selling video advertising simple and efficient, today announced it has closed $20 million in financing led by Bessemer Venture Partners. Existing investors Gemini Israel Funds, Redpoint Ventures and Spark Capital also participated in the round. Adap.tv will use this financing to support international growth, expand its technology platform, intensify product development, and strengthen its leadership position in the U.S. market.
"Adap.tv is changing the way video advertising is bought and sold by connecting advertisers and publishers on one open platform. Over the past year we've seen incredible adoption of the Adap.tv Marketplace and we have surpassed our expectations for growth, as advertisers demand access to premium video inventory and publishers seek to fully monetize their content," said Amir Ashkenazi, CEO and Co-founder, Adap.tv. "The investment helps us focus on expanding in areas where we see the greatest opportunity. This includes strengthening our cutting-edge platform and putting a deeper focus on international markets."
Since its launch in February 2010, more than 4,200 sites have adopted the Adap.tv Marketplace as a monetization solution and are benefitting from the hundreds of brand name campaigns running through it on a daily basis. Ranked by comScore(R) as the third largest online video property measured by video ads delivered, Adap.tv reaches over 60 million unique viewers and delivers more than 1.8 billion video ad views monthly.
"We have been closely following the evolution of online video advertising and Adap.tv's game-changing business model stands out from the rest of the competition," said Byron Deeter, Partner at Bessemer Venture Partners. "Adap.tv's proven technology platform brings immediate value to its partners, and has positioned them as the leading marketplace for online video advertising."
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