Bangalore and California based Jivox, the leading multi-screen interactive advertising technology company, has announced that it has raised $5.8 million in Series C funding.
San Francisco based Fortisure Ventures led the round with participation by Shah Capital and existing investors Diaz Nesamoney, Opus Capital and Helion Advisors. The company plans to use this round of investment to expand sales and marketing and invest in its flagship product – Jivox IQ.
“Interactive advertising is going through a dramatic change as consumers move from desktop computers to tablets and smartphones to consume content,” said Diaz Nesamoney, CEO and founder of Jivox. “Legacy ad platforms have been unable to cater to the need for brands to deliver interactive ads across screens due to their dependence on Adobe Flash technology. This is creating a tremendous demand for HTML5 based multi-screen ad platforms like Jivox. This investment will allow us to accelerate our market leadership.”
A study from the Association of National Advertisers and Nielsen found that spend on multi-screen advertising campaigns is expected to grow from 20 percent to 50 percent of budgets in the next three years.
Jivox is uniquely positioned to address this market through creating more engaging ads with rich, analytics that can optimize performance in real-time. “The growth of the digital advertising industry over the past year is unmatched. The endless opportunities to deliver customers with rich and compelling content are matching the increasing budgets,” said Mani Subramanian, CEO of Fortisure Ventures. “As a leader in the market, Jivox is working with some of the world’s most innovative brands to deliver ads that at scale across all formats and screens. This investment will help accelerate the company’s growth and product innovation.”