US-based video delivery platform developer InnoVid has secured $27.5m in a debt and equity round backed by Cisco Ventures and T-Venture, the respective corporate venturing vehicles of Cisco and Deutsche Telekom.
The corporates were joined in the $15m equity portion of the round by New Spring Capital, Sequoia Capital Israel, Genesis Partners and Vintage Investment Partners. A further $12.5m in debt financing was provided by Silicon Valley Bank and TriplePoint Capital.
InnoVid claims it has built the only video platform capable of serving pre-roll and advanced video ads across all devices, including desktop, mobile, gaming consoles and connected television.
The round brought InnoVid’s overall financing to about $65m, and follows a $10m series D round in March this year featuring Cisco Investments, T-Venture, Sequoia Capital and Genesis Partners.
T-Venture, Sequoia, Genesis and Vintage Investment Partners also participated in an $11m series C round in 2013, after T-Venture had backed InnoVid’s $4.1m series A round in 2010 and its $9.5m series B the following year.
InnoVid has more than 200 employees spread across eight offices across the world, and plans to “rapidly expand” in the US, Asia Pacific and Europe and Middle East regions, with a particular focus on customer success and product innovation.