BlackArrow, provider of advertising solutions for new TV platforms, announced today that it has raised $20 million in Series C funding. The round was led by NDS Group, with contributions from existing investors Cisco Systems, Comcast Interactive Capital, Intel Capital, Mayfield Fund and Polaris Venture Partners. As leader of the round, NDS has earned itself a place on BlackArrow’s board of directors.
The company last picked up funding in October 2008, when Cisco, Comcast Interactive Capital, Intel Capital, Mayfield Fund, and Polaris Venture Partners contributed to a $20 million round. Since its first round in 2004, BlackArrow has raised a little over $50 million in investments.
This new funding will go directly to further development and deployment of BlackArrow’s Advanced Advertising System, a tool that enables content providers to better control their ad campaigns on any and all new TV networks, which could include video on demand, DVR, mobile, and/or online video.
In addition to the financing, BlackArrow has also announced a new partnership with NDS Group, a company that allows pay-TV operators to bring digital content to TV STBs (set-top boxes), DVRs (digital video recorders), PCs, mobiles and other multimedia devices.
“The ability to deliver timely, addressable advertising to on-demand audiences presents a major revenue-growth opportunity for operators and programmers worldwide,” said Dr. Abe Peled, CEO and chairman of NDS Group. “BlackArrow’s market traction in North America, combined with its approach and technology for delivering high-value, targeted advertising solutions, aligns with the needs of NDS’ customers – from service providers to media companies.”
BlackArrow is all about keeping ads dynamic and interesting to the user, so this company could have an advantage over some other competitors.
