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What: Video advertising platform Innovid has secured US $30 million in the pre-IPO funding round.
Why it matters: The company will use the funds to advance its end further to end CTV platform as well as to expand its global presence.

 

Innovid, a New York-based video advertising platform, has secured a US $30-million investment in the pre-IPO funding round. The investment was made by the Goldman Sachs Private Capital Investing Group.

The company intends to use the funds to advance its end further to end CTV platform as well as to expand its global presence. As of now, Innovid creates, delivers and measures video ads for brands like Toyota, Bank of America, L’Oreal, Campbell, GlaxoSmithKline, and others.

It works across connected and streaming devices such as Amazon Fire, Roku, Samsung TV, and Apple TV. The company recently launched OTT Composer, a self-service authoring tool to create and publish experiences for connected TV advertising.

The company has offices in Chicago, San Francisco, London, Sydney, Tel Aviv, New York, and Singapore.

Zvika Netter

“Innovid as of now is working on continuing to push the boundaries of what is possible with video advertising across all screens, especially on CTV,” said Zvika Netter, CEO and co-founder of Innovid. “Our technology platform is helping the new advertising models, which include addressable and interactive ads, that are ushering in a new era of personalization and relevancy for CTV viewers. With this funding, Innovid will further advance its end-to-end CTV platform, creating a more efficient workflow while solving industry measurement challenges and expanding its global footprint to meet the evolving needs of its international client base of brands, media and creative agencies, and publishers.”

“As an early entry in the field of CTV with some of the major established inventory supply partners, Innovid is well placed and positioned to capture some of the massive secular shift in CTV consumption,” said Hillel Moerman, head of Goldman Sachs Private Capital Investing group.

 

Innovid is introducing a new suite that enables marketers, for the first time, to include video throughout the customer journey through its integrations with Adobe, IBM, and Oracle marketing clouds. Innovid claims that the new Marketing Cloud Suite breaks the silos between video and other marketing channels and allows marketers to develop more meaningful relationships with consumers by using first and third-party data from other marketing channels such as web, email, search, display, social, mobile, and commerce to drive more consumer engagement with richly personalized and relevant video ads.

By using data to deliver more effective video creative, and now integrating video throughout the customer journey, marketers can provide powerful one-to-one marketing which could not previously be achieved. Innovid is also now passing back user intent data to marketing clouds and data management platforms based on video interactions, which will help marketers improve existing customer segmentation and drive marketing automation, simplifying the complexity of today’s multi-channel world and increasing the overall effectiveness of every channel.

Innovid uses data provided by DSP and DMP platforms to personalize video campaigns, and leverages that data to engage targeted audiences in meaningful ways at scale.

zvika-headshot-office-1Zvika Netter, Innovid’s CEO and co-founder, tells Portada that “Innovid’s Video Marketing Platform offers a variety of different solutions that help advertisers engage consumers across all screens and channels. The Marketing Cloud Suite will be valuable for marketers involved in media buying/ planning/ activation, such as teams reporting to the SVP, Marketing Strategy or VP, Digital Marketing. We work directly with them and with the marketing data teams within brands. Other marketing teams benefit from this as well, such as website, email and social marketing teams.”

Netter claims that “no  other company is connecting paid video to the marketing cloud. Innovid uses data provided by DSP and DMP platforms to personalize video campaigns, and leverages that data to engage targeted audiences in meaningful ways at scale. We are also sending product interest and consideration data back to the DMPs, helping marketers to expand customer segmentation inside their DMP.”

Conagra Brands is one of the first brands to explore data-driven video across all channels with Innovid. “We believe it’s more important than ever to develop ongoing customer journeys throughdata-driven cross-channel marketing experiences,” said Heather Dumford, marketingdirector at Conagra Brands. “We’re excited to put Innovid’s new marketing capabilitiesinto action so we can more creatively incorporate video into the customer journeyequation.”

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Since the company’s inception in 2007, Innovid has developed a comprehensive, media-agnostic video marketing platform that is purpose-built for video, reaching every device across more screens and more channels with richly personalized and data-driven creative. The integrations with marketing cloud companies further strengthen Innovid’s position as a leader in video advertising and marketing technology, and provides marketers with the most seamless and effective way possible to engage consumers everywhere they consume content, while providing real-time analytics.

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“On the other side of every screen is a unique individual, and we have an incredible opportunity to help marketers engage each consumer in a more personal way,” said Zvika Netter, CEO and co-founder at Innovid. “With the new Marketing Cloud Suite, Innovid is empowering marketers to convert existing TV ads into video that can be tailored for all digital environments and customized for specific consumers, based on past exposure and interactions across all channels.”

-Optimization Suite – Innovid improves campaign performance and ensures that custom KPIs are met through real-time analysis of media quality, including viewability, fraud, and brand safety, as well as performance. This is accomplished through triggering notifications, suspending delivery or performing real-time video ad blocking when campaigns do not meet desired thresholds.

IPG Mediabrands and Innovid have launched a partnership and set of products that could make waves in the video advertising world. Innovid, a video marketing platform for advertisers to create, deliver, and measure video experiences on different devices, entered the expanded partnership with the global media holding arm of Interpublic Group that is home to several leading full-service agencies including UM, Initiative, MAGNA, Ansible, IPG Media Lab and Cadreon. The announcement was made at digital marketing conference dmexco 2016

Dynamic Messaging Key to All Brands’ Marketing

With the viewer experience in mind, Innovid has developed interactive TV-to-mobile (TV2M) technology that allows the viewer to input a mobile phone number with a remote control to receive extra content from the connected TV ad, such as a digital coupon or website address, via text or SMS.

Tal Chalozin, cofounder and CTO at Innovid
Tal Chalozin, cofounder and CTO at Innovid

“Dynamic messaging is expected and a must in all aspects of a brand’s marketing,” said Tal Chalozin, cofounder and CTO at Innovid.

Chalozin also highlighted that while interactive TV is nothing new, these types of products break down obstacles to increasing sosonalization and engagement at scale, emphasizing that “this is also the first time ever that any brand can cater stories to specific individuals with video.”

A New Approach to Video Advertising

The collaboration enables IPG Mediabrands’ clients to reach and engage audiences across multiple living room devices, and introduces technological innovations such as optimized UIs and TV-to-mobile integrations that fuel engagement, as well as unified analytics to deliver insight and analytics useful for developing and improving connected TV video ad campaigns.

“As audiences become more segmented across so many different devices, brands are thinking about ways to amplify messaging for greater reach and optimal engagement,” said Chad Stoller, EVP of global innovation at IPG Mediabrands. “Our collaboration with Innovid allows us to offer our clients unprecedented, cross-platform reach and a whole new way of thinking about video that values the viewer—rather than the consumer—as the most significant part of the equation, and we believe this shift will drive meaningful engagement.” IPG Mediabrands and Innovid also share clients, which makes the partnership a natural fit.

Maximizing Relevancy and Increasing Engagement for Hispanic Targeting Efforts

In terms of targeting the Hispanic community, Chalozin explained that the partnership helps marketers better target and engage this demographic through its ability to identify whether or not a user has visited a Spanish-language website like Univision or ESPN Deportes, information that can be used to “personalize the messaging and change the language of a video ad to Spanish, thereby making the content more relevant to the end viewer.”

Our collaboration with Innovid allows us to offer our clients unprecedented, cross-platform reach and a whole new way of thinking about video that values the viewer—rather than the consumer—as the most significant part of the equation.

Chalozin added that this new technology will be available to all of Innovid’s other clients and partners: “As we continue to innovate around connected TV with IPG Mediabrands, we will roll out even more products and capabilities for living room devices in the future.”

Tapping Third-Party Content Providers, Leveraging Geo-Location

Chalozin also confirmed that Innovid is working with retail brands like Lowe’s and Best Buy to “tap into third-party content providers and leverage geo-location data to dynamically serve personalized messages based on the offers available in the viewer’s geographic location.” The products also allow them to look at intent data and insert products into a video ad that the viewer may have left in a shopping cart.

“As television shifts to digital, viewers consuming video content on other devices should get the same seamless experience that they’ve come to know and love from television. At the same time, marketers need better solutions to reach viewers across screens and extract measurements while fostering true viewer engagement,” said Chalozin. “We’re excited to embark on this journey with IPG Mediabrands to focus more than ever before on the end viewer and continue to help every brand ‘build once and deliver everywhere.’”

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