Digital video-ad startup BrightRoll raises $30 million
Managing 2.25 billion video ads monthly, BrightRoll challenges Hulu, YouTube and Tremor Media.
BrightRoll currently manages 2.25 billion video ads monthly, or nearly one out of every three video ads served in the United States, according to data from comScore and BrightRoll's internal reporting. The company reports it has reached more unique viewers than Hulu and the top four television network websites combined.
The company says its year-old mobile network currently generates about 250 million monthly pre-roll video impressions on 6,000 mobile apps and websites.
"We challenge the assumption that the networks who are ranked ahead of us by comScore are in fact larger," says BrightRoll CEO Tod Sacderdoti. "BrightRoll has been number one in unique reach for video advertising nearly every month this year."
BrightRoll's business is driven by three key factors. They are, in order of significance: Brand dollars moving into online video instead of traditional media; brand dollars moving to networks instead of directly to sites hosting the ads; and brand dollars moving to BrightRoll from competitors.
BrightRoll, a private company, says it continues to double revenue year over year, without disclosing specifics. The company says it has invested heavily in technology and research as well as grown its senior leadership team. It hired a CFO last April and currently has 150 employees. BrightRoll also expanded into the United Kingdom, Canada and Germany with new offices.
The funding was led by Trident Capital. Existing investors True Ventures, Scale Venture Partners and Adams Street Partners all participated, as did Comerica Bank. BrightRoll doesn't share information on profits but is expected to do more than $50M in revenue this year