Streaming video on your smart phone continues to rise, and that's why this SF-based startup just landed another round of funding.
Transpera, a mobile video ad network, announced on Wednesday it raised $9 million in Series C financing. BlackBerry Partners Fund led the round, which included participation from existing investors Flybridge Capital Partners, First Round Capital, Intel Capital and Labrador Ventures. This brings the company's total funding to $19.3 million.
Along with the funding announcement, the company launched a new product, The Attention Network, which it said delivers interactive video ads with a variety of engaging placement options like pre-roll video or as video interstitial for any mobile app.
Transpera is focused mainly on delivering mobile video ads. It's video ads can be placed across a variety of platforms including the mobile Web, iPhone, iPad, Android and Blackberry. So far, the company reports its platform sees results like 9X higher increase in purchase intent than what is seen from typical online video campaigns, and 2X higher increase in ad awareness compared to typical online video campaigns.
The San Francisco-based startup is boasting some big clients like AccuWeather.com, CBS News, Discovery Communications, Msnbc.com, MTV Networks, Showtime, and Travel Channel.
Vikrant Gandhi, Senior Analyst at Mobile and Wireless Communications, Frost & Sullivan commented, "Mobile phone usage in the U.S. continues to grow despite the decline in use of other forms of media."
Transpera said it would use the funds to continue its development of mobile video advertising innovations to meet the rapidly growing demand from both publishers and brand advertisers. It also plans to increase its mobile video focused ad-sales and publisher acquisition force.
It's interesting to note that on the same day of this announcement came another one - AT&T is introducing data usage caps, making viewing video on your smart phone quite a bit less appealing.
We've reached out to Transpera for an interview so we'll post as soon as we hear back.