Genesis Media announced Monday that it's raised a $3 million Series A round of funding, led by NY-based holding company Black Ocean, and SamStella, an ad-tech-focused investment fiund.
NY-based Genesis Media is a video ad technology company that provides targeting and engagement solutions for advertisers who want to put their campaigns on video across premium content publishing sites. Genesis Media plans to roll out a platform for its advertising partners, giving them access to 150 million consumers per month. According to the company's website, current partners include "Fox, Parade, Conde Nast and many other tier-1 advertisers and premium publishers."
Genesis Media, which is a result of a merger between AdGenesis and TVGenesis, is apparently doing some innovative things in the vide-ad-tech space. Here's what it says on its website: "Traditionally, advertisers employ the television model by placing commercials before long-form, online programming. Genesis allows users to select their preferred brands, confirm their attention, and receive coupons or QR codes that are relevant and make online video advertising truly rewarding." With these capabilities, Genesis has been able to produce solid metrics.
According to the company, it's able to generate CTRs (click-through-rates) of 7% and 80% completion rate of video ads.