TubeMogul announced today that it closed $20 million in Series C financing, positioning the company well as brand dollars follow consumer attention to digital mediums. The funds will be used to accelerate hiring and extend the company’s technological lead in real-time buying of video ads worldwide.
The funding round is led by Northgate Capital, with managing director Tommy Vardell set to join TubeMogul’s board of directors. Existing investors Trinity Ventures and Foundation Capital also participated in the financing. The latest round brings the company’s total funds raised to date to $35 million, a number that is strikingly capital-efficient when viewed in context — other comScore-ranked video ad companies all raised more (some over $100 million), only to be bested or closely followed by TubeMogul in terms of video ads served. In the market for real-time biddable video specifically, TubeMogul dominates as the single largest buyer.
Brett Wilson, CEO and Co-Founder of TubeMogul, comments: “We are proud to have built the most scalable platform for real-time video advertising out there — one that could easily run ten times the volume of ads than it does today. With the product built out, we are focused on scaling the business to increase our global market share in the video advertising market.”
Immediate plans for the capital include opening new international offices and expanding hiring worldwide. In addition to the company’s existing 25 open positions, TubeMogul is planning key hires in engineering, marketing and sales. Specific markets slated for expansion include Europe and Asia, with the company’s London and Sydney offices playing important roles.
Since launching the first real-time buying platform exclusively dedicated to video advertising almost two years ago, TubeMogul’s growth has been both rapid and sustained. TubeMogul is the 144th-fastest growing private company in the United States according to Inc. Magazine, and seventh fastest-growing in the San Francisco Bay Area. Revenue growth already doubled from last year’s $17.8 million, and headcount kept pace as the company brought on 57 new employees in the past six months.
Designed to maximize the branding power of video advertising, TubeMogul’s video advertising platform puts brand marketers in direct control over every aspect of a media buy, with actionable reporting on brand impact and cost. Rather than offering bundled site lists ahead of time and assessing performance after the fact, TubeMogul lets advertisers select the exact sites where an ad appears and which audiences see it, allowing for real-time optimization by creative, media mix, target demographic and more. To measure impact, the company’s brand survey technology — BrandSights — is included on every campaign, along with real-time performance data. Dozens of other tools come built-in, from BrandSafe triple-layered brand safety to the ability to create custom audience segments.
“TubeMogul has built a platform which offers significantly greater creative freedom to brand advertisers, and which eliminates the waste and inefficiencies of video advertising,” commented Tommy Vardell, Managing Partner of Northgate Capital. “This has the potential to materially change the brand advertising business, regardless of whether an ad is watched on television, a computer, or a tablet.”
“Brett and his team have built TubeMogul into the fastest growing company in the video ad platform space” said Ajay Chopra, general partner at Trinity Ventures and TubeMogul board member. “Trinity was the first institutional investor in TubeMogul and we are delighted to participate in this financing that will help fuel the company’s momentum even further”
“TubeMogul is the leading brand-focused video advertising platform,” said Ashu Garg, general partner at Foundation Capital. “Just as Google enabled direct response advertisers to make the transition online, it is TubeMogul’s goal to enable large brand advertisers to make a similar transition online.”
About TubeMogul TubeMogul is the only video marketing company built for branding. By integrating real-time media buying, ad serving, targeting optimization and brand measurement into its PlayTime platform, TubeMogul simplifies the delivery of video ads and maximizes the impact of every dollar spent by brand marketers. Founded in 2006, TubeMogul is based in Emeryville, CA with offices in New York, London, Sydney, Singapore, Toronto, Austin, Detroit, Chicago and Los Angeles.