Seattle-based online video advertising technology company Mixpo has raised $4 million more from previous investors Madrona Venture Group, Growthworks and Yaletown Venture Partners, bringing the total of capital invested in the company to a healthy $10.5 million.
As media companies continue to struggle with revenue declines across the board and as the economy has many SMBs turning over every advertising penny twice before spending, publishers are trying to diversify their interactive product portfolios. Online video advertising has emerged as the fastest-growing online advertising format for small and medium-sized businesses.
What Mixpo is doing is pretty smart: they’re signing deals with local media publishers like Comcast, NBC’s local media group, the Tribune newspaper company, TownNews.com and many more to equip them with their so-called VideoAd platform, which essentially enables advertisers to create and distribute video ads into the publishers’ existing online ad systems.
The company, founded in 2005, is competing against companies like Jivox and One True Media’s Spotmixer, which has recently inked a distribution deal with Google.
Here’s a demo video:
anyway $4 mil is a good sum. good luck to them
Mixpo is doing a great job overseas. Really love what these guys are doing. Congrats to Anupam gupta from Europe. Thomas Owadenko (Videoagency.tv)
Another interesting tidbit: I believe the former incarnation of the company was called Pixpo — a P2P photo sharing company (was based out of Vancouver at the time).
Its always interesting to see how companies evolve and adapt over time. Congrats guys.
Congrats to Mixpo team, got funding in current recession is difficult task
Video has changed the way local businesses think about advertising. I believe in the next few years, there will be a lot of investment in this space as one of the few areas of growth.