16340 raises $20 million for ad network

Ranked third by comScore, under Hulu and Tremor Media, is a quickly growing ad marketplace

Financial trends and news by Ronny Kerr
March 29, 2011
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Online video advertising company announced Tuesday that it has closed $20 million in Series C financing led by Bessemer Venture Partners, with participation from existing investors Gemini Israel Funds, Redpoint Ventures and Spark Capital.

The startup has raised nearly $50 million over several rounds since its founding in 2006.

Offering solutions for advertisers, publishers and partners, aims to streamline the process of ad buying and building a ad-based revenue model.

Advertisers receive access to an all-in-one campaign manager for buying, serving and tracking various video ad campaigns and publishers can use to run video spots across every platform--Web, mobile and IPTV.

Since launching in February 2010, the Marketplace has been utilized by over 4,000 websites as a monetization solution. Today, it is ranked the third largest online video property by video ads viewed, according to comScore, with 431.9 million videos viewed in the month of January 2011. Ranking above are Tremor Media Video Network, with 503.7 million videos viewed, and Hulu, with 1.1 billion videos viewed.

( claims that it delivers over 1.8 billion video ad views monthly, but that more than quadruples comScore’s count. See chart at bottom for the whole picture.)

The ad network also says it reaches over 60 million unique viewers.

Just last week, brought its ad marketplace to the UK for the first time, citing upward trends for online video in Europe.

Today’s new funding will go toward supporting international growth, the technology platform, and product development.

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