Online video ad information provider Veenome gets $600K
Things are looking up for online video advertisement data information provider Veenome, which has added $600,000 to its coffers and a customer to its books.
A group of investors, including Virginia's Center for Innovative Technology, India Venture Partners, Piedmont Investment Investors and individual investor Glen Hellman, poured $600K into the company in the belief that its ad search data technology will be what advertisers and networks want and need. Virginia-based Veenome previously raised $500,000.
Perhaps even more importantly, Veenome has added leading video network company BrightRoll to the list of customers who use its technology to collect data about the pre-roll advertising that appears before the online video.
Networks "have a limited amount of information on the content that their ads are running on," Veenome founder Kevin Lenane told The Washington Post. "This is our expertise. This is what we live and breathe. We can provide all of this extra information and their advertisers are asking for it."
The information, which includes whether the content being viewed is about sports, politics or entertainment, as well as how long the video runs, gives marketers and advertising networks an opportunity to target their video ads with material they believe is relevant to their intended audiences.
"To a brand advertiser spending millions of dollars a month on advertising like this, it's extremely valuable information for them," Lenane said.
- The Washington Post has this story