Videoplaza, a UK-based video management platform for advertisers, secured $12m in series B funding on Wednesday from Qualcomm Ventures, the corporate venturing unit for semiconductor and telecom corporation Qualcomm, and Innovacom, a corporate venturing unit of France Telecom.
Venture capital firms Creandum and Northzone also participated in the round, having previously financed a $4.8m series A round in March 2010. Creandum previously invested in Videoplaza’s $660,000 seed round in July 2008 together with Swedish angel investors.
Founded in Sweden in 2007, Videoplaza’s service enables businesses to monetise their online video content across a wide range of formats, including internet-connected television, whether in-house or through advertising networks.
Bruno Dizengremel, partner at Innovacom, said: "With the number of connected devices booming, the New IP-delivered TV is clearly one of the most disruptive markets right now. Not only have Videoplaza managed to sign up a large and high profile client base, their technology is at the heart of the monetisation strategy for these broadcasters and premium publishers. Our investment in Videoplaza reflects the importance we place upon developing revenue-generating opportunities across the New TV. Technology platforms will be increasingly important achieving this."
The cash will be used to expand Videoplaza’s customer base on a global scale. Videoplaza has recently opened offices in Madrid, Berlin and Singapore to this end.