Vdopia Raises $4 Million in First Round Funding
Date: Wednesday , December 02, 2009
Vdopia, a video ad network firm, has raised $4 million in the first round of funding from Nexus Venture Partners. The company has also appointed Rohit Sharma, who was till recently with Mohr Davidow Ventures, as its new President and CEO in conjunction with this financing round.
With this round of funding, the company plans to expand its marketing team. Vdopia offers a platform for the iPhone that enables application developers and advertisers to simultaneously monetize their applications. The company started out in India by launching a video ad network, which is used by some major websites in the country. “There’s some overlap between the online video and iPhone efforts in any company, which has a video ad presence in a big way, as they come onto iPhone applications as well,” says Chhavi Upadhyay, Co-founder and Chief Operating Officer, Vdopia.
Founded in 2007 by Upadhyay, Saurabh Bhatia, and Srikanth Kakani, Vdopia is based in San Jose, California, with additional offices in San Jose, California, Gurgaon, and Mumbai, India. The privately held Vdopia claims to be the first company to enable pre-app and in-app video advertising on all iPhone applications. The users in its network watch more than 50 percent of the pre-app video and the performance is 300 percent higher than traditional online video ads.
With 17 employees worldwide, the company has managed to enable television quality content to be delivered online, supported by a wide variety of advertising formats including all video and rich media display advertising. Its solutions to advertisers, media planners, and marketers include publisher networks, brand connect with various ad formats on various online Internet TV channels, advertising, measurable branding, and reporting. Some of the recent innovations like Talk2Me ad platform, Live Streaming Ad Insertion, and Video pre rolls have helped Vdopia achieve the position of default video monetization player in the market.
“Unlike other Internet advertising solutions, the company’s integrated video and advertising platform offers the entire range of engaging ad formats, including ad insertion in live streams for broadcast,” concludes Chhavi.