Online video advertising network Jivox has raised $8.2 million in a funding round led by Fortisure Ventures, with participation from existing investors Opus Capital, Helion Advisors and founder Diaz Nesamoney. The company says it will use the funding Jivox to push adoption of its interactive video advertising platform, and build out its technology platform to take advertising to multiple screens.
Is Jivox Just A Tech Platform, As Far As The Indian Market Is Concerned?
(Nikhil adds:) It appears to us that here that Jivox is looking at itself primarily as a technology platform in India – we’re not sure if it competes in the Indian market any more in terms of ad sales. Last month it had inked a deal giving an exclusive licence for the Asia Pacific region (and it appears India, Australia, South East Asia, Middle East and Africa) its technology platform to online ad network, Komli publishers, transferring its customers to Komli. Jivox claims to deliver 1,000 interactive video ads in a month, and says that it is also focusing on delivering ads on mobile devices.
The total funding in the company including seed investments by two promoters now stands at $23.2 million. Last year, Jivox India MD Naren Nachiappan had said that it plans to raise $15 million in 2011 to expand operations to Europe. However, it appears that the focus is now on becoming a technology focused venture, specially after the Komli deal. The company statement on the funding does not discuss intents to expand operations to new markets.