China-based video advertising software provider Beijing Moviebook Technology has raised RMB1.36bn ($199m) in a series D round co-led by artificial intelligence technology producer SenseTime, China Money Network reported today.
The round was co-led by SBCVC, a venture capital firm formed by telecommunications group SoftBank, and included media group Oriental Pearl, Qianhai Wutong M&A Fund and investment firms Lang Sheng Investment and PAC Partners.
Moviebook produces video recognition technology that enables clients to advertise their products in online videos through overlays designed to visually blend in with the content on screen, doing so through its advertising network.
The company also runs a data management platform that helps customers analyse the effectiveness of their online ad campaigns.
The series D funds will be used to increase the size of Moviebook’s research and development team and upgrade its image optimisation technology, which will benefit from AI algorithms provided by SenseTime.
Moviebook has not made details of its early funding available but it raised an undisclosed sum in a late 2016 series C round led by private equity fund New Horizon Capital, and approximately $73m in a series C+ round led by investment firm Primavera Capital in July 2017.