Video advertising network Vdopia has raised $3.4 million ($3,391,862) in a series B round, according to a filing with the Securities and Exchange Commission (SEC). This was first reported by MarketBrief.
Vdopia noted in the filing that it started raising capital from December 3, 2012 and was looking to raise $7.4 million ($7,391,863) from investors. However, there is currently no information on where the company plans to utilize the capital raised. As per the SEC filing, the company is raising this capital through Series B preferred stock which is convertible to common stock.
Previous Fund Raising
Vdopia had previously raised $4 million from Nexus Venture Partners in October 2009, following an undisclosed seed round from the same fund in December 2008. We’ve contacted Suvir Sujan at Nexus Venture Partners for more details, and will update in case we have a response.
In October 2010, Vdopia had claimed that it had turned profitable for the quarter, claiming that its revenues had grown by 200% when compared to the same quarter last year, and registered a 200% growth in revenues quarter on quarter. However, it hadn’t disclosed any absolute revenue details.
In June 2011, Vdopia had inked a deal with IAS-Media Digital, a media marketing group that operates in the Middle East, which offered IAS-Media Digital access to Vdopia’s video ads – pre-app, in-app and mobile web video ads – on smartphones and online video products across the Middle East region. Prior to this, it had also partnered with NDTV to power video advertising for NDTV Profit and NDTV’s online video site Tubaah, which was shut down later.
Vdopia had also inked a partnership with the video sharing website Metacafe to monetize Metacafe’s entire online video and rich media inventory in India in April 2011, according to an Indiantelevision.com report.
According to the company website, Vdopia has clients like NDTV (NDTV.com, NDTV Good Times, NDTV Khabar, NDTV Movies), Rediff.com, IBNLive, CricketNext, MoneyControl.com, Indyarocks, Star Gold, Indya.com, Rajshri, Zapak and BigFlix among others. It also claims to have advertisers like eBay, BharatMatrimony.com, Emirates, GM (General Motors), HP (Hewlett-Packard), ICICI Bank, and Idea Cellular among others.
Vdopia competes with the online video advertising network Jivox which had recently launched an interactive ad insertion solution for mobile video streams and had raised $8.2 million funding from Fortisure Ventures, Opus Capital, Helion Advisors and founder Diaz Nesamoney. Exponential Interactive which operates an in-stream video advertising technology company AdoTube had also expanded its operations to five new locations including Mumbai, London, Toronto, Singapore, and Dubai.
– Jivox Opens Up Its Interactive Video Advertising Platform In APAC Region; Komli
– Video Ad Network VDOPIA Claims It’s Turned Profitable; Call For Funding?
– VDOPIA Raises $4M From Nexus Venture Partners; Indian Video Ad Trends