Iris.TV, which does contextual targeting for connected TV, said it raised $18 million in a Series B funding round led by Intel Capital.
The proceeds will be used to grow its video data platform and self-serve tools that enable video-level targeting for CTV and online video.
In addition to Intel Capital, a division of Intel Corp., WISE Ventures, Quest Venture Partners and Marae Asset Venture Investment participated in the financing.
Also involved were Mike Baker, founder of dataxu; Mike Shehan, founder of SpotX and Ari Paparo, CEO of Beeswax.
“Iris.TV is uniquely positioned to capitalize on the tremendous growth in online video viewership and the attendant need for brands and publishers to better monetize existing content in a Connected TV world,” said Marcelino Ford-Livene, managing director, Intel Capital. “We are excited to be involved in IRIS.TV’s rapid growth in this emerging sector.”
IRIS.TV said it simplifies the complexity and fragmentation of the video and CTV ecosystem by connecting and unifying video data from any source to enable better consumer experiences and drive business outcomes.
"We are thrilled to have Intel Capital as an investor, which will allow us to build the data infrastructure for the future of video and Connected TV," said Field Garthwaite, CEO of Iris.TV.
"This investment will allow IRIS.TV to expand operations with a focus on three key areas of growth," Garthwaite said. "First, we’re looking to continue hiring world class talent and developers. Second, we will be expanding our strategic partnerships across the ecosystem to enable marketers and advertisers to utilize video-level data to achieve their business goals. Lastly, we will be investing in new API’s and features to provide the tools publishers, ad platforms, and marketers need to successfully invest in the fast-growing Connected TV space."
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.