Bangalore: Vdopia, a video advertising network founded by India-born entrepreneurs, has secured $3.4 million in private offering from an undisclosed investor in Series B round. It is not yet confirmed where the company would utilize the money.

Set up in 2008 by Stanford and IIT graduates Chhavi Upadhyay, Srikanth Kakani and Saurabh Bhatia, Vdopia is India's largest online video advertising platform with the widest range of advertising formats for all content online. It also operates iPhone advertising network iVdopia in the US with unique pre-app and in-app video advertising formats.

The company's competitors include Jivox, Komli Media and Ozone Media. Vdopia announced that its mobile video advertising business had become profitable in March 2011. Vdopia has clients like NDTV, Rediff.com, IBNLive, CricketNext, MoneyControl.com, Indyarocks, Star Gold, Indya.com, Rajshri, Zapak and BigFlix among others.

The Silicon Valley-headquartered company, which has India offices in Mumbai and Gurgaon had raised $4 million from Nexus Venture Partners in 2009.