IRIS.TV, a California (United States) based video data platform, announced on 7th April 2021 that it has raised US $ 18 million in its Series B round. The round was led by Intel Capital along with participation from WISE Ventures, Mirae Asset Venture Investment, Quest Venture Partners, and few angel/individual investors.
Investors: Intel Capital is a California based investment firm that was founded in the year 1991. It primarily focuses on innovative tech startups in the areas of cloud, AI, cybersecurity, enterprise applications, silicon design & manufacturing, gaming, 5G and other disruptive technologies. It has vast experience under its belt with around US $ 735 million in investment made in the year 2020 itself. Its portfolio includes companies such as Aerial, Airship, Altergeo, Datarobot, Cornelis and more.
“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. We are excited to be involved in IRIS.TV’s rapid growth in this emerging sector.”—Marcelino Ford-Livene, managing director at Intel Capital.
Purpose of investments: The current round brings the total funds raised to date by IRIS.TV to around US $ 24.1 million. The funds would be utilised by IRIS.TV to accelerate the growth of its video data platform and support building APIs that enable video-level data targeting for connected TV.
IRIS.TV was founded in the year 2013 by Richie Hyden, Robert Bardunias and Field Garthwaite as a video data platform with flexible APIs that provide profitability, utility and effectiveness for streaming videos.
It describes its mission as follows- “Our mission is to provide developers, publishers, brands, agencies, and technology providers with a comprehensive understanding of streaming video in order to create better consumer experiences and business outcomes.”
IRIS.TV’s service is built on the core values of trust and privacy. The APIs used to activate video data are based on and are compliant with global privacy laws. Further its efforts are directed towards building the future of video, as a healthy and independent media is central to democracies.
What the CEO has to say:
“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. This investment will allow IRIS.TV to expand operations with a focus on three key areas of growth. 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.”— Field Garthwaite, co-founder and CEO of IRIS.TV
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