Jivox raises $4 Million
Date: Wednesday , June 30, 2010
Diaz Nesamoney founded online video advertising firm Jivox, has raised $4 million in the follow-on investment round from Opus Capital and Helion Venture Partners. With this latest round of funding, Jivox has raised $15 million till date.
This new round of funding would be used for promoting the brand and venturing into Chennai markets. California based Jivox is a provider of interactive video ad technology that enables businesses to reach new customers online. Many of the large media companies and advertisers are using the Jivox platform to create and distribute interactive video ads and manage their ad operations more effectively.
Currently, Jivox is aggressive on tapping India's growing online advertising market which is estimated at around $300 million, with the video component estimated at just $30 million. “ In India, while a sizable part of the new advertising money was coming into online video, the advertising market still remained ripe for print especially in the vernacular industry," Diaz Nesamoney, President & CEO, Jivox.
The three-year-old firm Jivox offers advanced ad creation tools and targeted distribution through its network of over 1,000 media and content websites, as well as through directory listings, viral marketing programs, email campaigns, social networks and more. Jivox also provides sophisticated analytics that drive continuous campaign improvement, including a unique "video engagement score" that gives advertisers immediate insight into campaign performance. "At the moment, the plan is to look at funding in the first quarter of 2011. We could look at a figure similar to what we have already raised depending on how we chart our expansion," says Nesamoney. The company has an employee base of 45 people.
Jivox works with most of the top brands in the automobile, financial services, electronics, travel & leisure and entertainment sectors in India. The company’s India operations are handled by Naren Nachiappan, who is the Managing Director at Jivox India.
The firm's revenue model works on fee per impression. It books spots on most of the top online publishers in India, and also in the U.S., and works on revenue sharing basis in some cases. The Global online video advertising is $1 billion market and expected to grow at 20 to 25 percent and Jivox is trying to make a mark in this market.