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SpotMixer parent gets $9M in Series B

January 7, 2009 — 11:02am ET | By Pete Wylie

Tools

OneTrueMedia, which offers the SpotMixer online video advertising service, announced the closing of $9 million in Series B funding Wednesday. DAG Ventures led the round and was joined by NTT Finance and Kleiner Perkins Caufield Byers, which led the Series A round for OneTrueMedia. DAG's Young Chung will join OneTrueMedia's board as part of the deal.

"While the market opportunity for video advertising remains well-defined, smaller businesses are more concerned than ever about how to most cost-effectively spend their limited advertising dollars," said Chung. "We believe strongly in SpotMixer's comprehensive, low-cost business model, so it was a clear choice for DAG to lead this round of funding. SpotMixer has quickly established itself as one of the most innovative and thoughtful solutions that will accelerate growth around this major advertising trend."

The company said the new round of funding would allow it to scale the SpotMixer program, which allows businesses to handle online video advertising campaigns from production to delivery. SpotMixer was recently named an authorized reseller for Google's AdWords online advertising program.

It is targeted at companies that do not have large advertising budgets, but still want to capitalize on the reach and engagement impact of online video. The funding comes on the heels of a bearish forecast for 2009 online video ad sales by a JP Morgan analyst released Tuesday, but continued venture investment in online video advertising seems to indicate two schools of thought on the format's future.

For more:
- see the OneTrueMedia release here